RE: RE: PBG activity in PBN 113,800 shares is the maximum amount PBG is allowed to repurchase per day under its NCIB. Detailed below. The figures are a list of PBN sales by PBG and are accurate. PBG is selling the same number of PBN shares as it is purchasing of PBG.
The Toronto Stock Exchange (“TSX”) has accepted the Company’s notice to make the NCIB to purchase outstanding Shares on the open market, in accordance with the rules of the TSX. As approved by the TSX, Petrobank is authorized to purchase up to 7,784,304 Shares, representing approximately 10% percent of the public float of Petrobank Shares as defined by the policies of the TSX. As of August 31, 2012, there were 99,647,804 Shares outstanding. On any trading day, Petrobank may not purchase more than 113,821 Shares, representing 25% of the average daily trading volume on the TSX over the previous six calendar months.