RE:RE:RE:RE:RE:RE:RE:Ncib - from 11.5.19Okay , "they never received approval" can only happen if they never asked for it, or it was denied. Which one are you suggesting or is there a third option? And you mean exemption I assume not exception. Im curios what exemption could apply to not getting approval from the tsx and/or not reporting any activity. If they bought back stock or bonds it would have to be after sept 30 financials and we will soon see when they report q4, that's certain. There's so much info shareholders are craving in this quarterly report and that has a lot to do with the frustrating lack of any interim updates and lack of response to any inquiries put in to IR or management. Ath is either going to $1 in a hurry, or a giant step back. Faaawwcckk.
2020oilgamble wrote: I never said they were denied.
I said they never received approval because if they did there would have been a press release.
They could have bought back a lump sum under exception....we will wait and see.
Maxmoe wrote: I'll repeat. I've never heard of a denial. It's far more likely they either didn't apply, or just didn't think they needed to do a press release.
2020oilgamble wrote: Sorry for the confusion - press release is a mandatory step - no press release - no approval
Maxmoe wrote: Are 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 ?