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High Liner Announces Approval of Normal Course Issuer Bid
High Liner Announces Approval of Normal Course Issuer Bid Canada NewsWire LUNENB...
About this update from High Liner Foods Incorporated
[{"type":"text","content":"\n\n\n\nHigh Liner Announces Approval 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\nLUNENBURG, NS, Jan. 30, 2018\n\n\n\nLUNENBURG, NS, Jan. 30, 2018 /CNW/ - High Liner Foods Incorporated (the \"Company\") (TSX: HLF) today announced that it has filed a notice with the Toronto Stock Exchange and received approval to purchase through the facilities of the Toronto Stock Exchange up to 150,000 of the 33,379,815 issued and outstanding Common Shares of the Company (\"Common Shares\") as of January 22, 2018, representing approximately 0.78% of the public float, being 19,171,106 shares, of the Common Shares as of January 22, 2018.  The price the Company will pay for any Common Shares acquired will be the market price at the time of acquisition.  Purchases under the normal course issuer bid (\"NCIB\") will be made by the Company and the shares so acquired shall be cancelled.  Purchases may commence on February 2, 2018 and will terminate no later than February 1, 2019. \n\nThe average daily trading volume (\"ADTV\") of the Common Shares was 57,870 on the TSX over the six months ending December 31, 2017. Under TSX rules, the Company is entitled to purchase up to the greater of 25% of the ADTV of the respective class of shares or 1,000 Common Shares on any trading day, or a larger amount of Common Shares per calendar week, subject to the maximum number that may be acquired under the NCIB, if the transaction meets the block purchase exception under TSX rules.  Accordingly, unless a block purchase meeting the block purchase exception under TSX rules is made, the Company is entitled to purchase up to 14,467 Common Shares on any trading day.\n\nIn connection with the program, the Company has established an automatic securities purchase plan (\"the Plan\") for the Common Shares. The Plan was established to provide standard instructions regarding how the Common Shares are to be repurchased under the NCIB. Accordingly, the Company may repurchase its securities under the Plan on any trading day during the NCIB inc...