RE:RE:RE:Ncib - from 11.5.19Are you suggesting Ath applied for NCIB approval with the tsx and was denied? I don't think that has ever happened. As for getting approval and buying 9.9% of their stock without issuing a press release, well, I'll eat my toque. Well done please. Shareholders have been bugging them about buying back stock for over a year now. I can think of no reason not to announce it. In fact, it's up for the required annual renewal.
2020oilgamble wrote: That's what I started to research - they completed the steps for the NCIB - but without a press release, it is unlikely they received approval
However, I have been researching exemptions...
And yes, it is possible
ManitobaCanuck wrote: 2020oilgamble wrote: Normal Course Issuer Bid Athabasca’s Board of Directors has approved a Special Meeting of Shareholders for the Company topursue the implementation of a Normal Course Issuer Bid (“NCIB”) through the facilities of the Toronto Stock Exchange. The Board and management believe there is a severe dislocation in underlying value andthe current trading price. In order to affect an NCIB Athabasca must reduce its stated capital pursuant to the provisions of the Business Corporations Act (Alberta). As such the Board of Directors has determined to hold a special meeting of shareholders on January 8, 2020 to consider and, if determined advisable, approve a reduction in the stated capital of Athabasca’s common shares. The record date for the special meeting of shareholders is December 4, 2019. Pursuant to the NCIB and subject to regulatory and shareholderapproval, Athabasca would be able to purchase for cancellation up to 10% of its issued and outstanding common shares for a one year period at prevailing market prices at the time of purchase
Is it possible they bought back the other 9.9% of Equinor stake ?