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Rogers Sugar Inc T.RSI

Alternate Symbol(s):  RSGUF | T.RSI.DB.E | T.RSI.DB.F

Rogers Sugar Inc. is a Canada-based company. The principal business activities of the Company are the refining, packaging and marketing of sugar, and the packaging, marketing and distribution of maple products. The Company’s segments include Sugar and Maple products. The principal business activity of the Sugar segment is the refining, packaging and marketing of sugar products. The Maple products segment processes pure maple syrup and related maple products. The Company operates through its wholly owned subsidiaries, Lantic Inc. (Lantic) and The Maple Treat Corporation (TMTC). Lantic products include granulated (regular and organic), brown, icing, liquid, cubed sugars and specialty syrups, as well as agave, organic coconut sugar, Nature’s Raw sugar, maple sugar and flakes and other dry blends. TMTC’s products include maple syrup and derived maple syrup products supplied under retail private label brands in approximately 50 countries and are sold under various brand names.


TSX:RSI - Post by User

Bullboard Posts
Post by challenger426on May 22, 2018 8:29am
415 Views
Post# 28062293

News - Share buy back program

News - Share buy back program
This could help the share price.

Rogers Sugar Receives Toronto Stock Exchange Approval for Normal Course Issuer Bid

THIS MEDIA RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) -- Rogers Sugar Inc. (the “Corporation” or “Rogers Sugar”) (TSX:RSI) announced today that it has received approval of the Toronto Stock Exchange to proceed with a normal course issuer bid to purchase up to 1,500,000 common shares (the “Shares”) representing approximately 1.6% of the public float of Shares as at May 10, 2018. The average daily trading volume for the 6-month period preceding May 1, 2018 is 159,288 Shares. In accordance with TSX rules, the Corporation may repurchase up to 39,822 Shares on a daily basis. The bid will commence on May 24, 2018, and terminate on May 23, 2019 or on such earlier date as the Corporation may complete its purchases pursuant to the bid. The Shares will be purchased on behalf of the Corporation by a registered broker through the facilities of TSX or alternative Canadian trading systems. The price paid for the Shares will be the market price at the time of acquisition, and the number of Shares purchased and the timing of any such purchases will be determined by the Corporation. All Shares purchased by the Corporation will be cancelled. As at May 10, 2018, the Corporation had 105,744,970 Shares outstanding and a public float of 93,695,429 Shares. During the past 12 months, no Shares were purchased by the Corporation.

The Corporation also announced that it has implemented an automatic repurchase plan with a broker in order to facilitate repurchases of its Shares under its normal course issuer bid. Under the Corporation’s automatic repurchase plan, the Corporation’s broker may repurchase Shares under the normal course issuer bid at any time including, without limitation, when the Corporation would ordinarily not be permitted to due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the Corporation’s broker based upon the parameters prescribed by the TSX and applicable Canadian securities laws and the terms of the parties’ written agreement. The Corporation may suspend or terminate the automatic repurchase plan only if it does not have material non-public information and the decision to suspend or terminate the automatic repurchase plan is not taken during a self-imposed trading blackout period. The automatic repurchase plan constitutes an “automatic plan” for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.

The Corporation believes that its Shares may trade in price ranges which do not fully reflect the value of the Shares. As a result, the Corporation believes that the purchase of its outstanding Shares may represent an appropriate use of its funds.

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