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IROC ENERGY SERVICES CORP. RENEWS NORMAL COURSE ISSUER BID
IROC ENERGY SERVICES CORP. RENEWS NORMAL COURSE ISSUER BID
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[{"type":"text","content":"\n\n\n\n Dec. 20, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, Dec. 20 /CNW/ - IROC Energy Services Corp. ("IROC" or the\n "Company") (TSX Venture Exchange: "ISC") announced today that it has\n received approval from the TSX Venture Exchange to renew its normal\n course issuer bid (the "Bid"). Pursuant to the renewed Bid the Company\n may purchase, through the facilities of the TSX Venture Exchange, up to\n a maximum of 4,266,197 of its common shares, representing 10% of IROC's\n 42,661,970 issued and outstanding common shares. Purchases by IROC\n under the Bid may commence on December 24, 2010 and will end no later\n than December 23, 2011.\n\n\nAll common shares purchased under the Bid will be cancelled, increasing\n the respective proportionate share interests of all remaining\n shareholders. In any 30 day period purchases under the Bid may not\n exceed 2% of the common shares issued and outstanding at the time the\n purchases are made. IROC will pay the market price of its common shares\n on the TSX Venture Exchange at the time of acquisition and no purchases\n will be made other than by means of open market transactions during the\n period the Bid is outstanding. \n\n\nIROC is renewing the Bid because the Company continues to believe that,\n depending on the trading price, its common shares may from time to time\n be undervalued and may not reflect the financial strength and net asset\n value of the Company and, acco...