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Atlas Engineered Products Announces Renewal of Normal Course Issuer Bid
Atlas Engineered Products Announces Renewal of Normal Course Issuer Bid Canada ...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n \n \n \n Atlas Engineered Products Announces Renewal of Normal Course Issuer Bid\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NANAIMO, BC\n \n \n ,\n \n \n Nov. 10, 2022\n \n \n /CNW/ - Atlas Engineered Products (\"Atlas\", \"AEP\" or the \"Company\") (TSXV: AEP); (OTC Markets: APEUF) announced today that it has received approval from the TSX Venture Exchange (the \"TSXV\") to renew its normal course issuer bid (the \"NCIB\") to be transacted through the facilities of the TSXV.\n \n \n The renewed NCIB will commence on\n \n December 1, 2022\n \n and end on\n \n December 1, 2023\n \n or such earlier date as AEP may complete its purchases as set forth in its notice filed with the TSXV. Under the renewed NCIB, AEP may purchase up to 4,732,015 common shares of the Company, representing up to 10% of the Company's Public Float as of\n \n November 2, 2022\n \n . The price that AEP will pay for Common Shares purchased under the NCIB will be the prevailing market price at the time of acquisition. The actual number of Common Shares purchased under the NCIB, and the timing of such purchases will be determined by the management of AEP. Purchases under the NCIB will continue to be effected by Canaccord Genuity Corp. (\"Canaccord\"). AEP may enter into a pre-defined automatic securities purchase plan with Canaccord to allow for the repurchase of Common Shares at a time when the Company would ordinarily not be active in the market due to its own internal trading blackouts, insider trading rules or otherwise. Any such plans will be adopted in accordance with applicable Canadian securities laws.\n \n \n Purchases of common shares under the NCIB will continue to be made on the open market through the facilities of the TSXV and will be purchased for cancellation.\n \n \n AEP's board of directors continues to believe that the current market price for the Company's common shares does not currently reflect the underlying value of the Company. As a result, depending on future price movements and other factors, AEP's board of directors belie...