Trius Investments to buy back 1.05 million shares Good to see Trius putting their money where their mouth is. Maybe in two years, dividends will be happening. One can hope!
Pursuant to the issuer bid, Trius may purchase for cancellation up to 1,050,667 of its common shares, representing 10 per cent of its public float, during the 12-month period commencing Dec. 18, 2013. The price which Trius will pay for any shares under the normal course issuer bid will be the market price at the time of purchase. The purchases will be made through the TSX-V. The brokerage firm conducting the normal course issuer bid on behalf of Trius is Leede Financial Markets Inc. Subject to regulatory approval, the normal course issuer bid will commence on Dec. 18, 2013, and terminate on Dec. 17, 2014.
The corporation believes that the purchase of its shares at recent market prices is a worthwhile investment since recent market prices of its shares do not properly reflect the underlying value of its assets and business. To the extent that the corporation purchases for cancellation such shares in accordance with the normal course issuer bid, the holdings of remaining shareholders would represent an increased proportion of the shares outstanding and, all other things remaining equal, are expected to result in an increased net asset value per share.