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SECURE Energy Announces Renewal of Normal Course Issuer Bid
SECURE Energy Announces Renewal of Normal Course Issuer Bid Canada NewsWire CALG...
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[{"type":"text","content":"\n\n\n\nSECURE Energy 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\n\nCanada NewsWire\nCALGARY, May 25, 2020\n\n\n\nCALGARY, May 25, 2020 /CNW/ - SECURE Energy Services Inc. (\"SECURE\" or the \"Corporation\") (TSX – SES) announced today that the Toronto Stock Exchange (\"TSX\") has accepted for filing the Corporation's notice of intention to make a normal course issuer bid (\"NCIB\"). The NCIB effectively renews the existing NCIB, which is scheduled to end on May 27, 2020.\nPursuant to the renewed NCIB, SECURE may repurchase from time to time up to a maximum of 10,796,069 common shares of the Corporation (\"common shares\"), representing 10% of the Corporation's public float of 107,960,696 common shares at May 15, 2020.  Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading platforms on which the common shares are traded, based on the prevailing market price, at such times and in such quantities as the Corporation may determine, subject to applicable regulatory restrictions.  Under TSX rules, not more than 185,743 common shares (being 25% of the average daily trading volume on the TSX of 742,975 common shares for the six months ended April 2020) can be purchased on the TSX on any single trading day under the NCIB, except that one block purchase in excess of the daily maximum is permitted per calendar week.  Any common shares purchased under the NCIB will be cancelled.\nThe renewed NCIB period will commence on May 28, 2020, and end on May 27, 2021, or such earlier date as the NCIB is completed or is terminated at the Corporation's election.\nTransactions under the NCIB will depend on future market conditions.  SECURE retains discretion whether to make purchases under the NCIB, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements.\nThe renewed NCIB provides the Corporation with an additional capital allocation alternative ...