TSX:TNT.UN - Post by User
Comment by
gold_diggers1on Jan 11, 2024 4:14pm
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Post# 35822367
RE:RE:RE:Toronto’s ‘worrisome’ office vacancy rate hits new highs
RE:RE:RE:Toronto’s ‘worrisome’ office vacancy rate hits new highsmatt2018 - The following is taken from the company's April 12, 2023 News Release. Note the number of shares mentioned in the NR is before the reverse split. .
Under the terms of the NCIB, subject to TSX approval, the REIT will have the ability to purchase for cancellation up to a maximum of 8,239,557 of its units (representing 10 per cent of the REIT's public float of 82,395,573 units). Purchases under the NCIB will be made through the facilities of the TSX or through a Canadian alternative trading system and, in accordance with applicable regulatory requirements, at a price per unit equal to the market price at the time of acquisition. The NCIB will commence on April 18, 2023, and remain in effect until the earlier of April 17, 2024, or the date on which the REIT has purchased the maximum number of units permitted under the NCIB. The REIT's average daily trading volume from Oct. 1, 2022, until March 31, 2023, was 261,748 units. In accordance with the rules of the TSX, 25 per cent of that average daily trading volume (65,437 units) is the REIT's daily limit for purchases under the NCIB made through the facilities of the TSX, subject to block purchase exceptions. As of the close of business on April 6, 2023, the number of issued and outstanding units was 92,103,964. Any units acquired through the NCIB will be cancelled. The REIT has not purchased any units in the previous 12-month period. .
GLTA
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matt2018 wrote: question...... if they are buying the daily max amount of shares of 11,380 when will the current NCIB max out?
gold_diggers1 wrote: Well, it's good for TNT to buy back NCIB shares, is it not? Hitting $9.50?! Will the company annouce another year of NCIB to continue after end of April, No Dividend reinstated?
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Will it hit the $8.00s while DD stays on the sideline?
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GLTA