FONT-SIZE Plus   Neg

High Arctic Energy Gets Necessary Approvals To Conduct Normal Course Issuer Bid

High Arctic Energy Services Inc. (HWO.TO) said it has made the necessary filings, and received the necessary approvals to conduct a normal course issuer bid through the facilities of the Toronto Stock Exchange.

The TSX has accepted the Corporation's notice to conduct the normal course issuer bid to purchase outstanding common shares on the open market, in accordance with the rules of the TSX. As approved by the TSX, the Corporation is authorized to purchase up to 2.48 million common shares, representing approximately 5% of the currently issued and outstanding common shares of the Corporation.

As of today's date, there are 49.62 million common shares outstanding. On any trading day, High Arctic will not purchase more than 6,248 common shares, other than through block purchase exceptions.

The Corporation is authorized to make purchases during the period from March 23, 2012 to March 22, 2013, or until such earlier time as the normal course issuer bid is completed or terminated at the option of the Corporation.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Daimler AG were losing around 3 percent in the morning trading, after the German auto giant trimmed its forecast for fiscal 2016 revenues and unit sales, while it backed adjusted EBIT view. Meanwhile, in the third quarter, the company recorded higher earnings and revenues, with increased sales volumes. German software developer SAP SE reported Friday lower profit in its third quarter due to higher stock-based compensation expense. However, revenues were higher. All regions posted improved results. Citing the strong cloud performance, the company said it is confident to deliver a strong fourth quarter, and also raised its full-year 2016 operating profit and revenue outlook. Shares of Ericsson were declining around 3 percent in the early morning trading after the Swedish telecom operator reported Friday a loss in its third quarter as net sales were hurt by weaker demand for mobile broadband, especially in markets with weak macro-economic environment.
comments powered by Disqus
Follow RTT