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High Arctic Announces Renewal of Normal Course Issuer Bid
High Arctic Announces Renewal of Normal Course Issuer Bid High Arctic Announces Re...
About this update from High Arctic Energy Services Inc
[{"type":"text","content":"\n\n\n\nHigh Arctic Announces Renewal 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\nHigh Arctic Announces Renewal of Normal Course Issuer Bid\nCanada NewsWire\nCALGARY, Jan. 6, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/\n\n\n\n\n\n\nCALGARY, Jan. 6, 2016 /CNW/ - High Arctic Energy Services Inc. (TSX: HWO) (\"High Arctic\" or the \"Corporation\") is pleased to announce that it has made the necessary filings, and received the necessary approvals to conduct a normal course issuer bid (\"NCIB\") through the facilities of the Toronto Stock Exchange (\"TSX\").\n\nThe TSX has accepted the Corporation's notice to conduct the NCIB to purchase outstanding common shares on the open market, in accordance with the rules of the TSX.  As approved by the TSX, the Corporation is authorized to purchase up to 2,772,136 common shares, representing approximately 10% of the public float of High Arctic, being 27,721,368 as of January 5, 2016. As of January 5, 2016, there were 54,368,469 common shares outstanding.  The maximum number of common shares that High Arctic may purchase on any given day is 17,154 common shares, which is 25% of the Corporation's average daily trading volume on the TSX for the last six months of 2015 adjusted for the Corporation's NCIB during the same period.  High Arctic may also make one weekly block repurchase which exceeds the daily limit subject to prescribed rules. All common shares acquired under the NCIB will be cancelled.\n\nThe Corporation is authorized to make purchases during the period from January 12, 2016 to January 11, 2017, or until such earlier time as the NCIB is completed or terminated at the option of the Corporation. Any common shares the Corporation purchases under the NCIB will be purchased on the open market through the facilities of the TSX or alternative Canadian markets, at the prevailing market price at the time of the transaction. The...