RE: RE: SIBCan you enlighten me about the procedure for buying back shares in Canada. Here in Europe it's pretty normal that companies buy back their own shares on the exchange for current (daily) rate. Of course there are some regulations, but a valuation of some sort is not needed. Of course it's also assumed that the company isn't withholding any information that could influence the share price.
It's in the long-term shareholders interest that a buyback will occur at the lowest price possible. This gives a tighter share structure while maintaining the companies cash reserves as much as possible.