Global 45 Split Corp. has announced:
acceptance by the Toronto Stock Exchange (“TSX”) of the Company’s Notice of Intention to make a Normal Course Issuer Bid for its Preferred Shares and Class A Shares (collectively, the “Shares”).
Under this normal course issuer bid, the Company may purchase, from time to time, if it is considered advisable, up to 135,258 Preferred Shares and 135,258 Class A Shares, representing approximately 10% of the public float of the Shares, which is the same number as the Company’s issued and outstanding Shares, being 1,352,582 Preferred Shares and 1,352,582 Class A Shares as of the date hereof.
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Under its previous normal course issuer bid, which commenced on July 5, 2007 and which expires on July 4, 2008, the Company has purchased and cancelled a total of 12,900 Preferred Shares and 12,900 Class A Shares at an average price of $10.5257 per Preferred Share and $14.7213 per Class A Share.
So … they did buy back some of their issue with the last bid, which plays a large role in my decision to post about the current bid. But don’t get too excited … according to First Asset, NAV as of June 26 was $22.14, while the TSX shows last trades of $12.25 for the capital units and $10.06 for the preferreds.
GFV.PR.A is not tracked by HIMIPref™.
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