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CANADIAN UTILITIES LIMITED NORMAL COURSE ISSUER BID
CANADIAN UTILITIES LIMITED NORMAL COURSE ISSUER BID Canada NewsWire CALGARY...
About this update from Canadian Utilities Limited Class A
[{"type":"text","content":"\n \n \n \n CANADIAN UTILITIES LIMITED 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 CALGARY, AB\n \n \n ,\n \n \n Sept. 1, 2023\n \n \n /CNW/ -\n \n Canadian Utilities Limited\n \n (TSX: CU)\n \n \n \n \n \n \n \n \n \n The Toronto Stock Exchange (the \"Exchange\") has accepted, from Canadian Utilities Limited (the \"Company\"), a Notice of Intention to make a Normal Course Issuer Bid (the \"Notice\") pursuant to which the Company intends to make a Normal Course Issuer Bid (\"NCIB\") for certain of its outstanding Class A non-voting shares (\"Class A Shares\") on the terms set forth in the Notice. The Company believes that, from time to time, the market price of its Class A Shares may not fully reflect the value of its business, and that purchasing its own Class A Shares represents an attractive investment opportunity.\n \n \n On\n \n August 24, 2023\n \n , 201,843,495 Class A Shares were issued and outstanding. Under the terms of the Notice and the rules of the Exchange, the Company may acquire up to 10,092,175 Class A Shares (being one per cent of the Class A Shares issued and outstanding, respectively, as at\n \n August 24, 2023\n \n ), excluding any Class A Shares held by or on behalf of the Company on such date, during the period commencing on\n \n September 7, 2023\n \n and ending on\n \n September 6, 2024\n \n or such earlier date on which the Company completes its purchases of Class A Shares under the NCIB or terminates the NCIB at its option.\n \n \n The aggregate number of Class A Shares that the Company may purchase under the NCIB during any trading day is subject to a maximum daily purchase limit of 170,173 Class A Shares (being 25 per cent of the average daily trading volume for the six calendar months preceding the date of the acceptance of the Notice, which was equal to 680,692 Class A Shares). Exceptions may be made to this daily purchase limit in accordance with the \"block purchase\" exemptions of the Exchange policy.\n \n \n Any Class A Shares purchased pursuant to the Notice w...