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The Toronto Stock Exchange accepted notice of Pinetree Capital Ltd.’s (TSX:PNP) intention to make a normal course issuer bid through the facilities of the TSX and on other alternative Canadian trading systems, 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 Toronto Stock Exchange accepted notice of Pinetree Capital Ltd.’s (TSX:PNP) intention to make a normal course issuer bid through the facilities of the TSX and on other alternative Canadian trading systems, 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.
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 (TSX:PNP) press release