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Pinetree Capital Ltd. (TSX:PNP) announced its intention to make a normal course issuer bid to purchase up to $3,750,000 principal amount of its 8% convertible unsecured subordinated debentures due May 31, 2016, representing up to 5% of the $75,000,000 principal amount of Debentures currently outstanding. The Bid is subject to acceptance by the TSX.
Pinetree Capital Ltd. (TSX:PNP) announced its intention to make a normal course issuer bid to purchase up to $3,750,000 principal amount of its 8% convertible unsecured subordinated debentures due May 31, 2016, representing up to 5% of the $75,000,000 principal amount of Debentures currently outstanding. The Bid is subject to acceptance by the TSX.
As quoted in the press release:
The Bid will commence on May 18, 2012 and end on May 17, 2013. Pinetree can purchase up to a maximum of $28,293 principal amount of Debentures per day under the Bid (subject to the company’s ability to rely upon the “block purchase exception” under the TSX rules). All purchases will be made at market prices and otherwise in accordance with the rules of the TSX, and all Debentures purchased under the Bid will be cancelled.
Click here to read the Pinetree Capital Ltd. (TSX:PNP) press release
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