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Dye & Durham Announces Commencement of Substantial Issuer Bid
Dye & Durham Announces Commencement of Substantial Issuer Bid Dye & Dur...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham Announces Commencement of Substantial 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 Dye & Durham Announces Commencement of Substantial Issuer Bid\n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 11, 2022\n \n \n /CNW/ - Dye & Durham Limited (\"\n \n Dye & Durham\n \n \" or the \"\n \n Company\n \n \") (TSX: DND) announces today the commencement and terms of its previously announced substantial issuer bid (the \"\n \n Offer\n \n \") under which the Company will offer to repurchase for cancellation up to\n \n $150,000,000\n \n of its outstanding common shares (\"\n \n Common Shares\n \n \"). The Offer commences today and will expire on\n \n December 16, 2022\n \n , unless extended, varied or withdrawn.\n \n \n The Offer is being made by way of a \"modified Dutch auction\", which will allow shareholders who choose to participate in the Offer to individually select the price, within a range of not less than\n \n $12.50\n \n per Common Share and not more than\n \n $15.00\n \n per Common Share (in increments of\n \n $0.10\n \n per Common Share), at which they are willing to sell their Common Shares. Upon expiry of the Offer, the Company will determine the lowest purchase price (which will not be more than\n \n $15.00\n \n per Common Share and not less than\n \n $12.50\n \n per Common Share) (the \"\n \n Purchase Price\n \n \") that will allow it to purchase the maximum number of Common Shares tendered to the Offer, and not withdrawn, having an aggregate purchase price not exceeding\n \n $150,000,000\n \n .\n \n \n Shareholders who wish to participate in the Offer will be able to do so through (i) auction tenders in which they specify the number of Common Shares being tendered at a specific price per Common Share, or (ii) purchase price tenders in which they agree to have a specified number of Common Shares purchased at the purchase price to be determined pursuant to the auction and have their Common Shares considered as having been tendered at the minimum price of\n \n $12.50\n \...