OT: Buyback restrictions on the TSX??Sorry to post here, but I'm hoping someone knowledgeable may have an answer for this...
I spoke with a director of Ur-Energy (URE) yesterday for nearly an hour - the primary point of the conversation was my inquiry as to why the company wasn't buying back its own stock (afterall, it is trading at ~50% of its CASH POSITION, with zero debt and very, VERY modest liabilities).
He claimed that their lawyers informed them that the Toronto Stock Exchange prohibits buying back their own shares here because their market capitalization has become too low now - something about 'KEF' (sp?) restrictions/requirements.
Does this sound legitmate to anyone??? I find it VERY hard to believe and certainly want to find confirmation regarding it.