Business
TransAlta Announces TSX Acceptance of Previously Announced Normal Course Issuer Bid
TransAlta Announces TSX Acceptance of Previously Announced Normal Course Issuer Bid ...
About this update from Transalta Corporation
[{"type":"text","content":"\n\n\n\nTransAlta Announces TSX Acceptance of Previously Announced 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, March 9, 2018\n\n\n\nCALGARY, March 9, 2018 /CNW/ - TransAlta Corporation (\"TransAlta\" or the \"Company\") (TSX: TA; NYSE: TAC) today announced that the Toronto Stock Exchange (\"TSX\") has accepted the notice filed by the Company to implement a normal course issuer bid (\"NCIB\") for a portion of its common shares (\"Common Shares\").  \n\nPursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately 4.86% of issued and outstanding Common Shares as at March 2, 2018. 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. Any Common Shares purchased under the NCIB will be cancelled.\n\nTransactions under the NCIB will depend on future market conditions. TransAlta 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. TransAlta may also enter into an automatic securities purchase plan in connection with its NCIB that contains parameters regarding how its Common Shares may be repurchased during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed blackout periods.\n\nThe period during which TransAlta is authorized to make purchases under the NCIB commences on March 14, 2018 and ends on March 13, 2019 or such earlier date on which the maximum number of Common Shares are purchased under the NCIB or the NCIB is terminated at the Company's election.  \n\nUnder TSX rules, not more than 102,039 Common Shares (being 25% of the average daily trading volume on the TSX of 408,156 Common Shares for the six months ended February 28, 2018) can be purchased on the TSX on any sing...