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Equitable Announces Normal Course Issuer Bid for Common Shares and Preferred Shares
Equitable Announces Normal Course Issuer Bid for Common Shares and Preferred Shares ...
About this update from Eqb Inc
[{"type":"text","content":"\n \n \n \n Equitable Announces Normal Course Issuer Bid for Common Shares and Preferred Shares\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 TORONTO\n \n ,\n \n Dec. 21, 2020\n \n /CNW/ - Equitable Group Inc. (\"Equitable\" or the \"Company\") (TSX: EQB) (TSX: EQB.PR.C) announced today that it has received the approval of the Toronto Stock Exchange (the \"TSX\") for  a normal course issuer bid (the \"NCIB\") for up to 1,144,245 of its Common Shares (the \"Common Shares\") and 297,250 of its Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3  (the \"Preferred Shares\" together with the Common Shares, the (\"Shares\")), representing, respectively, approximately 10% of its public float of each class of  shares. As at\n \n December 11, 2020\n \n , there were 16,863,756 Common Shares issued and outstanding and the public float was 11,442,454 Common Shares and 3,000,000 Preferred Shares issued and outstanding and the public float was 2,972,500 Preferred Shares, calculated in accordance with the rules of the TSX.  The Company intends to only purchase a maximum of 630,000 Common Shares under the terms of the NCIB.\n \n \n \n \n \n \n \n \n \n Purchases under the NCIB may commence on\n \n December 23, 2020\n \n and continue until\n \n December 22, 2021\n \n , when the NCIB expires, or on such earlier date as the NCIB is complete. The actual number of Preferred Shares purchased under the NCIB and the timing of any such purchases will be at the Company's discretion. Subject to the TSX's block purchase exception, on any trading day, purchases under the NCIB will not exceed 12,782 Common Shares and 1,000 Preferred Shares.\n \n \n The purchases made by Equitable will be implemented through the facilities of the TSX, and through alternative Canadian trading systems, in accordance with TSX rules. Any Shares purchased by the Company will be cancelled.\n \n \n The Company's board of directors has authorized the NCIB because it believes that, from time to time, the market price of Shares m...