RE:10-20 million shares cancelled under $11.50snakeplisken321 wrote: If they cancel 1.5 million every 2 weeks, after 3-5 months we could see a substantial float cancelled at bargain basement prices!
The NCIB says, "Under the terms of the Bid, Artis may purchase up to 13,314,337 trust units (“Units”) (representing 10% of the public float of 133,143,374 Units as at December 7, 2017). A maximum of 59,138 Units (25% of the average daily trading volume) may be purchased by Artis on any one day "
That's 295,690 per week plus one block trade per week. I expect the block trade would be at market close:
7. Block Purchase Exception—A listed issuer may make one block purchase per calendar week which exceeds the daily repurchase restriction contained in Subsection 628(a)(ix)(a), subject to maximum annual aggregate limits. Once the block purchase exception has been relied on, the listed issuer may not make any further purchases under the normal course issuer bid for the remainder of that calendar day.
I don't see any restrictions on the value of the block trade other than the annual limit, so that would depend on available cash.