Post by
shotski on May 30, 2006 4:26pm
FE share buy back
Find Energy Ltd. Announces Normal Course Issuer Bid
CALGARY, ALBERTA, May 30, 2006 (CCNMatthews via COMTEX News Network) --
Find Energy Ltd. ("Find") (TSX:FE) announced today that the Toronto Stock Exchange has accepted its Notice to Make a Normal Course Issuer Bid (the "Bid") to purchase, from time to time, as it considers advisable, up to 2,562,481 of its 35,851,648 currently issued and outstanding common shares (being no greater than 10% of the public float) on the open market through the facilities of the Toronto Stock Exchange. The price that Find will pay for any shares purchased by it will be the prevailing market price of such shares on the Toronto Stock Exchange at the time of such purchase. Common shares acquired under the Bid will be cancelled.
The Bid will commence on June 2, 2006 and will terminate on June 1, 2007 or such earlier time as the Bid is completed or terminated at the option of Find.
Find believes that the acquisition of its common shares represents an appropriate use of funds. The purchase of common shares will increase the proportionate interest of, and be advantageous to, all remaining shareholders. In addition, the purchases by Find may increase liquidity to Find's shareholders wishing to sell their common shares.
Find will complete a normal course issuer bid on June 1, 2006. Under the bid 710,400 common shares of find were purchased at an average price of $5.055 per share.
SOURCE: Find Energy Ltd.
Find Energy Ltd. Jeffrey P. Jongmans Vice-President Finance and Chief Financial Officer (403) 232-4809
Copyright (C) 2006 CCNMatthews. All rights reserved.
Comment by
dgh7 on May 31, 2006 12:14pm
shotski, thanks for posting that news release. Although I have a RSS feed from CCNMatthews wire service, I missed seeing that NR yesterday.
Because of their balance sheet, I don't expect to see Find actually purchase many shares but it certainly sends a message to the market.
I am down to 3,000 fe shares but will hold until the buy out comes.
Regards, Doug.
Comment by
Mexp3 on Jun 01, 2006 11:42am
Thats a pretty strong message from the company, basically telling everyone our stock is cheap.
If your not in, get in soon. This is stock is going much higher.
Good luck to all longs.
Comment by
duckhouse on Jun 03, 2006 12:08pm
Ages? Like 10 - 11 months ago (ages?) would have been the last window they were buying back shares. That was in the last year for those keeping score at home.
Management - Stock compensation - Stealing?
Go back to your coloring book.
D'Mass
Comment by
jamieb3 on Jun 04, 2006 12:05pm
I am having fun coloring Find Energy in my book, but the only colour I get to use is red! Oh well. It's only 5 months of zero growth. Anyone clever enough to become a "Stockhouse Pro" is probably happy with that.
Comment by
jamieb3 on Jun 07, 2006 11:38pm
"Hang in there, you'll see your $10 go to $15 ~ $18 in no time."
You mean my $9?
Comment by
jamieb3 on Jun 13, 2006 1:12pm
"Hang in there, you'll see your $10 go to $15 ~ $18 in no time."
You mean my $8?
Comment by
shotski on Jun 13, 2006 6:45pm
well if this keeps up , they just may get the opportunity to buy some back
Comment by
thedave on Jun 15, 2006 10:45am
bouncing sure hope it holds....bottom or what????
dave.
Comment by
JJump23 on Jun 19, 2006 6:32pm
I have only heard GREAT things about this company. Up it will go. Give it some time
Comment by
shotski on Jun 19, 2006 6:39pm
would you care to share what you have heard?
TIA
Comment by
JJump23 on Jun 19, 2006 11:30pm
Nothing major Sir. My stock broker told me about this and i was convinced that this company will be trading at $17- $22 by years end. I was told about this company about 3 monthes ago when it was app. $10. The next week it drove itself up to $13. If i had money, i would buy this company. Unfortunately, my cash is very limited. I just have great faith in this company.