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Suncor Energy Inc Announces Normal Course Issuer Bid


Monday, 17 Sep 2012 09:58pm EDT 

Suncor Energy Inc announced that the Toronto Stock Exchange (TSX) has accepted the notice filed by Suncor of its intention to commence a Normal Course Issuer Bid (the Bid) through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms. The notice provides that Suncor may, commencing September 20, 2012 and ending September 19, 2013, purchase for cancellation up to $1 billion worth of its common shares. The actual number of common shares that may be purchased and the timing of any such purchases will be determined by Suncor. All purchases are expected to be made from existing cash. All common shares acquired by Suncor under the Bid will be cancelled. Pursuant to the Bid, Suncor has agreed that it will not purchase more than 38,392,005 common shares, being approximately 2.5% of its 1,535,680,218 issued and outstanding common shares as at September 14, 2012. In addition, and subject to the 'block purchase' exemption, Suncor will not acquire through the facilities of the TSX more than 25% of the average daily trading volume of its common shares during a trading day on the TSX, being 903,755 common shares. 

Company Quote

41.2
-1.05 -2.49%
11 Jul 2014