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Dundee Corp Renews Its Normal Course Issuer Bid

Thursday, 28 Mar 2013 09:20am EDT 

Dundee Corp announced receipt of regulatory approval respecting its intention to continue its normal course issuer bid (the Bid) through the facilities of the Toronto Stock Exchange (TSX) from April 1, 2013 to March 31, 2014. Dundee may purchase up to a maximum of 2,704,138 of its Class A Subordinate Voting Shares (Shares), representing approximately 10% of its public float. As of March 22, 2013, Dundee had 50,947,352 Shares issued and outstanding. Dundee may purchase up to 20,403 Shares during any trading day which represents 25% of its average daily trading volume being 81,613 Shares for the most recently completed six calendar months prior to TSX acceptance of the notice of normal course issuer bid, other than pursuant to a block purchase exception. The purchases will be made in accordance with the Policies and rules of the TSX. The price paid for any Shares acquired will be the market price at the time of purchase and all Shares purchased under the Bid will be cancelled. Dundee believes that the purchase of its Shares at current market values represents a good long-term investment for the Company. Under the previous normal course issuer bid which came into effect on April 1, 2012 and will expire on March 31, 2013, Dundee purchased an aggregate of 912,900 Shares at a weighted average price of $24.14 through the facilities of the TSX. 

Company Quote

0.04 +0.26%
1:20pm EST