Business
Aston Hill Announces Normal Course Issuer Bid
CALGARY , Oct. 16, 2013 /CNW/ - Aston Hill Financial Inc. (" Aston Hill " or the " Compa...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\nCALGARY, Oct. 16, 2013 /CNW/ - Aston Hill Financial Inc. (\"Aston Hill\" or the \"Company\") (TSX: AHF and AHF.DB) announced today that the Toronto Stock Exchange\n (the \"TSX\") has approved its notice of intention to make a normal course issuer\n bid for a portion of its common shares (\"Common Shares\") and 6% extendible convertible unsecured subordinated debentures (\"Convertible Debentures\").  The normal course issuer bid will be made in accordance with the\n requirements of the TSX.  Aston Hill may begin to purchase Common\n Shares and Convertible Debentures on or about October 18, 2013, subject\n to Company blackout periods.\n\n\nAs of October 3, 2013, 89,038,645 Common Shares and $40,232,000\n principal amount of Convertible Debentures were outstanding.  Pursuant\n to the normal course issuer bid, Aston Hill intends to acquire up to\n 5,412,324 Common Shares and $4,014,000 principal amount of Convertible\n Debentures in the 12-month period commencing October 18, 2013 and\n ending on October 17, 2014, which figures represent 10% of the public\n float of outstanding Common Shares and Convertible Debentures as of\n October 3, 2013.  Purchases under the normal course issuer bid will be\n made by Aston Hill through the facilities of the TSX and in accordance\n with applicable regulatory requirements. The price that Aston Hill will\n pay for any Common Shares or Convertible Debentures will be the market\n price of such Common Shares or Convertible Debentures at the time of\n acquisition.\n\n\nThe average daily trading volume (the \"ADTV\") for the period of April 1, 2013 to September 30, 2013 was 37,655\n Common Shares and $14,133 principal amount of Convertible Debentures. \n Pursuant to the TSX rules, the maximum number of securities that may be\n repurchased during the same trading day is 25% of the ADTV, being 9,413\n Common Shares and $3,500 principal amount of Convertible Debentures, in\n each case subject to Aston Hill's ability to make one block purchase of\n each of the Common Shares and Convertible Debentures per calendar week\n that exceed such limits. Any Common Shares and Convertible Debentures\n that are purchased under the normal course issuer bid will be cancelled\n upon their purchase by Aston Hill. Aston Hill will fund the purchases\n through available cash.\n\n\nUnder its last...