CC: CFO: ABSOLUTE CLARITY In ELIMINATING USD 100M 2027 Notes- MEG will NOT PIVOT to 100% SHAREHOLDER RETURNS UNTIL the LAST 7.125% 2027 Notes are REDEEMED and CANCELLED
- 'EXPECTED' to OCCUR in LATE AUGUST
- MEG DYNAMICS on NCIB:
* at MONTH's END, DETERMINE WHAT CASH is NEEDED to PAY EXPENSES in the FOLLOWING MONTH (including DIVIDENDS)
* SUBTRACT this AMOUNT from the CASH BALANCE while KEEEPING a MINIMUM CASH BALANCE
* DIRECT the REST into the NCIB while RESPECTING the AVWP on those MEG SHARES being BOUGHT BACK
- using this METHOD, the SHARE BUYBACKS will ALWAYS BE LUMPY
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