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METRO INC. reinstates its normal course issuer bid program
METRO INC. reinstates its normal course issuer bid program Canada NewsWire MONTR...
About this update from Metro Inc.
[{"type":"text","content":"\n\n\n\nMETRO INC. reinstates its normal course issuer bid program\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\nMONTREAL, Nov. 21, 2018\n\n\n\nMONTREAL, Nov. 21, 2018 /CNW Telbec/ - METRO INC. (TSX: MRU) announces that the Toronto Stock Exchange (\"TSX\") has approved the Corporation's notice of intention to make a normal course issuer bid (the \"NCIB Program\"). Under the terms of the NCIB Program, Metro may acquire the common shares of the Corporation (\"Common Shares\") for a period of twelve months in accordance with the normal course issuer bid procedures of the TSX. Any repurchases will be made through the facilities of the TSX or of alternative trading systems, or by such other means as may be permitted by a securities regulatory authority. \nRepurchases under the NCIB Program may commence on November 23, 2018 and will terminate on November 22, 2019. The Corporation will be able to repurchase, in the normal course of business, up to 7,000,000 of its Common Shares representing approximately 2.7 % of its issued and outstanding shares on November 13, 2018. On November 13, 2018, there were 256,253,226 issued and outstanding shares of which 207,515,387 were part of the outstanding public float of the Corporation. The average daily trading volume of the Corporation's Common Shares over the last six (6) completed months was 500,297 shares. Accordingly, under the TSX Requirements, the Corporation is entitled on any trading day to purchase up to 125,074 Common Shares subject to the TSX Requirements regarding block purchases. Repurchases will be made through the facilities of the TSX at market price, in accordance with its policies and regulations, or through the facilities of alternative trading systems as well as by other means as may be permitted by a securities regulatory authority, including by private agreements. The Common Shares so repurchased will be cancelled. Purchases made by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority may be at a discount to the prevailing ma...