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BMTC Group Inc. announces the renewal of its normal course issuer bid to acquire common shares
BMTC Group Inc. announces the renewal of its normal course issuer bid to acquire common sh...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\nBMTC Group Inc. announces the renewal of its normal course issuer bid to acquire common shares\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\nCanada NewsWire\nMONTREAL, April 10, 2018\n\n\n\nMONTREAL, April 10, 2018 /CNW Telbec/ - The Company announces that it has received the required regulatory approvals to renew its normal course issuer bid to acquire for cancellation Common Shares listed on the Toronto Stock Exchange (the \"TSX\") for the period between April 13th, 2018 and April 12th, 2019, at the latest. The Company's previous normal course issuer bid ended March 22nd, 2018. Pursuant to its renewed normal course issuer bid, the Company intends to acquire, through the facilities of the TSX and through alternative trading systems (such as Alpha ATS) and in accordance with their requirements and also outside the facilities of the Toronto Stock Exchange pursuant to exemption orders issued by Canadian securities regulatory authorities, up to 1,754,800 Common Shares, representing about 5% of the 35,096,000 Common Shares issued and outstanding as at April 4th, 2018.\n\nWithin the last 12 months which ended on March 22nd, 2018, the Company acquired for cancellation, under its previous normal course issuer bid a total of 1,681,400 Common Shares with respect to which the weighted average price paid was $15.24 per share. The shares were acquired through the facilities of the TSX in accordance with their requirements and the Company had sought and obtained approval to purchase a total of 1,838,870 Common Shares.\n\nIn accordance with TSX requirements, the average daily trading volume of BMTC's Common Shares over the last six complete calendar months was 5,504 shares (the \"ADTV\"). Accordingly, under TSX rules and policies, BMTC is entitled on any trading day to purchase up to 1,376 Common Shares until April 12th, 2019. Once a week, in excess of the daily Common Shares repurchase limit, BMTC may also purchase a block of Common Shares not owned by an insider (i) having a purchase price of $200,000 or more, (ii) of at least 5,000 Common Shares having a purchase price ...