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BSM Announces Acceptance by TSX of Normal Course Issuer Bid
BSM Announces Acceptance by TSX of Normal Course Issuer Bid Canada NewsWire TORO...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n\nBSM Announces Acceptance by TSX of Normal Course Issuer Bid\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\nTORONTO, Dec. 21, 2018\n\n\n\nTORONTO, Dec. 21, 2018 /CNW/ - BSM Technologies Inc. (TSX: GPS) (\"BSM\" or the \"Company\"), a leading provider of Internet of Things (IoT) enabled telematics and asset management solutions, announced today that the Toronto Stock Exchange (the \"TSX\") has approved the Company's notice of intention to commence a normal course issuer bid (the \"Bid\").\nUnder the terms of the Bid, BSM may acquire up to 5,301,709 common shares of the Company (the \"Common Shares\") from time to time in accordance with TSX procedures. This represents approximately 10% of the total public float of the Common Shares, as defined by the TSX, as of December 1, 2018. On December 14, 2018, the Company had a total of 80,861,511 Common Shares outstanding out of which a total of 27,844,417 Common Shares are held by directors and senior officers, principal security holders or held in escrow.\nThe Bid will commence on December 27, 2018, and will terminate on December 26, 2019, or earlier if the number of Common Shares sought in the Bid have been purchased. Daily purchases under the Bid will be limited to a maximum of 11,686 Common Shares, other than purchases made in compliance with the provisions of the block purchase exemption of the TSX, which represents 25% of the average daily trading volume on the TSX for the period from June 1, 2018, to November 30, 2018.\nThe Company believes that the market price of its Common Shares at certain times may be attractive and that the repurchase of Common Shares at such market prices is an appropriate use of corporate funds.\nAll Common Shares will be purchased on the open market through the facilities of the TSX and/or alternative Canadian trading platforms, if eligible, and payment for the Common Shares will be in accordance with TSX policies. The price paid for the Common Shares will be the market price at the time of purchase, plus applicable brokerage fees, or such other prices as may b...