TSX:ERF - Post Discussion
Post by
retiredcf on Jun 07, 2023 9:29am
RBC
June 6, 2023
Enerplus Corporation
Announces Granting of Exemptive Relief Regarding its NCIB
NYSE: ERF | USD 14.65 | Outperform | Price Target USD 20.00
Sentiment: Neutral
Enerplus announced today that it has obtained an exemption order which permits the company to purchase up to 10% of its public float of common shares through the New York Stock Exchange and other US-based trading systems as part of Enerplus’ share repurchase program.
Key Details
• Absent of this exemptive relief, Enerplus’ purchases under its current NCIB on markets other than the TSX would be limited to not more than 5% of its outstanding common shares over any twelve-month period.
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The aggregate number of common shares purchased by Enerplus over any exchange or market over the relevant 12-month period of a particular NCIB may not exceed 10% of the public float, including the current NCIB announced on August 11, 2022.
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The company plans to repurchase the remaining balance of common share repurchases under its existing NCIB by the end of July, and will look to renew their 10% NCIB in August.
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