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Advantage Commences Odd-Lot Share Repurchase Program
Advantage Commences Odd-Lot Share Repurchase Program Canada NewsWire CALGARY, Ma...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n\nAdvantage Commences Odd-Lot Share Repurchase Program\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 21, 2018\n\n\n\n(TSX: AAV, NYSE: AAV)\n\n\n\nCALGARY, March 21, 2018 /CNW/ - Advantage Oil & Gas Ltd. (\"Advantage\") is commencing an odd-lot share repurchase program (the \"Odd Lot Program\") pursuant to which it will offer to buy back common shares from registered and beneficial shareholders of Advantage who own 99 or fewer common shares (\"Odd Lot Holders\"). The Odd Lot Program affords Odd Lot Holders the opportunity to sell all, but not less than all, of their common shares or to continue to maintain their current holdings. Advantage will purchase up to a maximum of Cdn. $4 million of its common shares under the Odd Lot Program (the \"Maximum\").\n\nThe Odd Lot Program will begin on March 27, 2018 and will expire once the Maximum is met or at the close of business on May 8, 2018 (the \"Period\"), unless otherwise extended. Advantage may extend the Period for up to an additional six weeks and may increase the Maximum at its sole discretion.   \n\nUnder the Odd Lot Program, Advantage will pay tendering Odd Lot Holders the following:\n\n\n\nCanadian Odd Lot Holders will receive a price per common share equal to the five day volume weighted average price (\"5 day VWAP\") of the common shares on the Toronto Stock Exchange for the week (i.e., calculated on the Friday) immediately prior to the week in which the Odd Lot Holder tenders their common shares; and\nUnited States Odd Lot Holders will receive a price per common share equal to the 5 day VWAP of the common shares on the New York Stock Exchange for the week (i.e., calculated on the Friday) immediately prior to the week in which the Odd Lot Holder tenders their common shares.\n\nAdvantage believes that the Odd Lot Program will be beneficial to Odd Lot Holders as it is a voluntary program allowing tendering Odd Lot Holders to dispose of their common shares without incurring prohibitive brokerage and other fees. Further, if the...