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Supremex to Repurchase Shares Under NCIB
Supremex to Repurchase Shares Under NCIB Supremex to Repurchase Shares Under NCIB ...
About this update from Supremex Inc.
[{"type":"text","content":"\n\n\n\nSupremex to Repurchase Shares Under NCIB\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\nSupremex to Repurchase Shares Under NCIB\nCanada NewsWire\nMONTREAL, July 29, 2016\n\n\n\nMONTREAL, July 29, 2016 /CNW Telbec/ - Supremex Inc., Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products, is pleased to announce that it has received approval from the Toronto Stock Exchange (\"TSX\") to purchase its own shares by way of a normal course issuer bid (the \"NCIB\"), for cancellation.\n\nNormal Course Issuer BidSupremex has received approval from the TSX to purchase by way of a NCIB, for cancellation, up to 500,000 of its common shares, representing approximately 1.75% of its 28,644,771 issued and outstanding common shares as of July 20, 2016. \n\nFrom July 2, 2015 until July 1, 2016, Supremex has purchased by way of a NCIB, for cancellation, 106,196 of its common shares at a weighted average price of $4.71 per share for a total consideration of $499,702.\n\nPurchases under the NCIB will be made through the facilities of the TSX or alternative trading facilities in Canada, if eligible, in accordance with applicable securities laws and regulations, over a maximum period of 12 months beginning on August 3, 2016 and ending on August 2, 2017. \n\nThe average daily trading volume of Supremex' common shares over the six (6) calendar months prior to the date hereof was 36,242. Accordingly, Supremex is entitled to purchase, on any trading day, up to 9,051 common shares representing 25% of such average daily trading volume. In addition, Supremex may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Supremex, in accordance with TSX rules.\n\nPurchases under the NCIB will be made by means of open market transactions or such other means as the TSX or a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid e...