RE:RE:Stock Buybacks May 17th annoucement:
"Whitecap is also pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Whitecap's notice of intention to commence a normal course issuer bid (the "NCIB"). The NCIB allows Whitecap to purchase up to 59,724,590 common shares (representing 10% of Whitecap's public float, as defined by the TSX, as of May 9, 2023) over a period of twelve months commencing on May 23, 2023. On May 9, 2023, Whitecap had 605,542,957 common shares outstanding and 597,245,909 common shares in its public float. The NCIB will expire no later than May 22, 2024. Under the NCIB, common shares may be repurchased on the open market through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems and in accordance with the rules of the TSX governing normal course issuer bids. The total number of common shares Whitecap is permitted to purchase is subject to a daily purchase limit of 569,660 common shares, representing 25% of the average daily trading volume of 2,278,643 common shares on the TSX calculated for the six-month period ended April 30, 2023, however, Whitecap may make one block purchase per calendar week which exceeds such daily repurchase restrictions. Any common shares that are purchased under the NCIB will be cancelled upon their purchase by Whitecap.
Whitecap is permitted to repurchase 58,341,984 common shares under its current normal course issuer bid that runs from May 21, 2022 to May 20, 2023. As at May 9, 2023, Whitecap had repurchased an aggregate of 17,910,600 common shares within the past 12 months under normal course issuer bids on the open market at a volume weighted average price per share of $9.33."