Articles
Normal Course Issuer Bids – Temporary Increase in Daily Purchase Limit
Given the current extraordinary market conditions, the TSX has temporarily increased the daily purchase limit under normal course issuer bids from 25% to 50% of the average daily trading volume of the securities for the six months before the commencement of the bid, effective until 11:59 p.m. EST on March 31, 2009, unless further extended. Venture issuers are still simply restricted to 2% of the outstanding securities of the class being purchased in a given 30-day period with no daily purchase restrictions.
See our e-LERT circulated on October 27, 2008 for further details regarding normal course issuer bids.