Business
TerraVest Announces Renewal of Normal Course Issuer Bid for its Common Shares and Automatic Securities Purchase Plan
TSX: TVK VEGREVILLE, AB , Nov. 22, 2013 /CNW/ - TerraVest Capital Inc. ("TerraVest" ...
About this update from Terravest Industries, Inc.
[{"type":"text","content":"\n\n\nTSX: TVK\n\n\nVEGREVILLE, AB, Nov. 22, 2013 /CNW/ - TerraVest Capital Inc.\n (\"TerraVest\" or the \"Corporation\") (TSX: TVK) announced today that it\n has received the approval of the Toronto Stock Exchange (the \"TSX\") to\n make a normal course issuer bid (the \"Bid\") for up to 621,305 of its\n issued and outstanding common shares (the \"Shares\") on the TSX.\n\n\nThe Corporation has also entered into an \"automatic securities purchase\n plan\" (as defined under applicable Canadian securities laws) with\n National Bank Financial Inc. for the purpose of making purchases under\n the Bid (the \"Plan\"). Purchases under the Bid will be determined by\n National Bank Financial Inc. in its sole discretion, without\n consultation with the Corporation, subject to the limitations of the\n Plan and the rules of the TSX. The Plan constitutes an \"automatic plan\"\n for purposes of applicable Canadian securities laws and has been\n reviewed by the TSX. The Plan was established to provide standard\n instructions regarding how TerraVest's Shares are to be purchased under\n the Bid. Accordingly, TerraVest may purchase its Shares in accordance\n with the Plan on any trading day during the issuer bid including during\n self-imposed trading blackout periods. TerraVest may otherwise vary,\n suspend or terminate the Plan only if it does not have material\n non-public information, the decision to vary, suspend or terminate the\n Plan is not taken during a self-imposed trading blackout period and any\n variation, suspension or termination is made in accordance with the\n terms of the Plan.\n\n\nPurchases under the Bid may commence on November 26, 2013 and will\n terminate on November 25, 2014, or on such earlier date as the Bid is\n complete. Purchases of Shares will be made through the facilities of\n the TSX in accordance with its rules. The average daily trading volume\n of the Shares for the previous six calendar months (\"ADTV\") was 1,362\n Shares. Subject to the TSX's block purchase exception, on any trading\n day, purchases under the Bid will not exceed 1,000 Shares. The price\n that the Corporation will pay for any Shares purchased under the Bid\n will be the prevailing market price at the time of purchase and any\n Shares purchased by the Corporation will be cancelled.\n\n\nAs of November 12, 2013, there were 12,426,103 Shares iss...