Normal Course Issuer Bid
Following is a copy of an e-mail I recently sent to the Company. If I hear from them, I will post their reply. In the meantime, if you have any comments, I would like to hear from you. As a long time shareholder of the company, I dont know what to make of your latest news release. Considering that in all of 2016, the company was only able to purchase 1,500 shares, I dont see how it would be able to even come close to the announced figure of 3,024,297 for 2017 and if this is the case, why bother making this annoucement. To begin with, with approximately 251 working days between January 19, 2017 and January 19, 2018, the company would have to purchase on average 12,050 shares a day. Considering that the daily trading volume some days was below this number, the company would have to make up the difference by purchasing up to the maximum of 26,556 shares on other days. However, the question is, what would this leave for new as well as existing shareholders wishing to buy shares of the company?