RE:RE:Friday Oct 15th - BTE mid-day updateGood afternoon Moon, policy link below but short summary NCIB they are limited to 2% per month 5% of OS or 10% of float....OR an SIB which allows you to take more...in the case of going private your would complete an SIB versus a slower NCIB.
POLICY 5.6 NORMAL COURSE ISSUER BIDS https://www.tsx.com/resource/en/447 This Policy sets out the procedures and policies of the Exchange with respect to
normal course issuer bids made through its facilities. In general, an Issuer can, subject to certain restrictions described in this Policy, purchase by
normal market purchases up to 2% of a class of its own shares in a given 30-day period up to a maximum in a 12 month period of the greater of 5% of the outstanding shares or 10% of the Public Float. OR
2. Substantial Issuer Bid An Issuer can repurchase more of its shares than the number permitted under the Normal Course Issuer Bid rules by making a formal bid under Securities Laws.
MooninPaPa wrote: Could you explain SIB and NCIB... I understand it has to do with buying back shares but that's the extent of my understanding. Thanks