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Suncor Energy Inc secures approval to amend normal course issuer bid

Tuesday, 18 Feb 2014 06:44pm EST 

Suncor Energy Inc:Says it has received approval from the Toronto Stock Exchange to amend its existing Normal Course Issuer Bid effective as at the close of markets on Feb. 21, 2014 through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms.Says the notice provides that Suncor may increase the maximum number of common shares that may be repurchased from about $1.8 billion, or about 4 pct to about $2.8 billion, or about 7.4 pct of the public float as at July 29, 2013.Says the decision to increase the NCIB was previously announced with Suncor's fourth quarter release on Feb. 3, 2014.Says no other terms of the NCIB have been amended.Says Suncor has already repurchased about $1.1 billion of common shares under the NCIB since Aug. 5, 2013.Says pursuant to the NCIB, Suncor has agreed that it will not purchase more than 111,121,897 common shares, of which 30,554,571 common shares have already been purchased between Aug. 5, 2013 and Jan. 31, 2014.