Bullboard - Stock Discussion Forum Stelco Holdings Inc STZHF

Primary Symbol: T.STLC

Steel Steel

Stelco Holdings Inc. is a Canada-based integrated and independent steelmaker with advanced integrated steelmaking facilities in North America. The Company is engaged in the production and sale of steel products. The Company produces flat-rolled value-added steels, including coated, cold-rolled, and hot-rolled steel products, as well as pig iron and metallurgical coke. It also provides gauge... see more

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TSX:STLC - Post Discussion

Stelco Holdings Inc > Intention to Commence Substantial Issuer Bid

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Post by Betteryear2 on Dec 21, 2021 8:28am

Intention to Commence Substantial Issuer Bid

HAMILTON, ON, Dec. 21, 2021 /CNW/ - Stelco Holdings Inc. (TSX: STLC) ("Stelco" or the "Company") announced today its intention to commence a substantial issuer bid (the "Offer") pursuant to which the Company will offer to purchase up to $250,000,000 in value of its outstanding common shares (the "Shares") from holders of Shares (the "Shareholders") for cash. As of December 20, 2021, there were 77,315,265 Shares issued and outstanding. The Offer would be for approximately 10.4% of the total number of issued and outstanding Shares if the purchase price is determined to be $31.00 (which is the minimum price per Share under the Offer) or approximately 8.7% of the total number of issued and outstanding Shares if the purchase price is determined to be $37.00 (which is the maximum price per Share under the Offer).

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