{"id":30137,"date":"2015-08-12T23:25:57","date_gmt":"2015-08-13T04:25:57","guid":{"rendered":"http:\/\/prefblog.com\/?p=30137"},"modified":"2015-08-12T23:25:57","modified_gmt":"2015-08-13T04:25:57","slug":"brf-ncib-was-real","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=30137","title":{"rendered":"BRF NCIB Was Real!"},"content":{"rendered":"

Brookfield Renewable Energy Partners L.P. has published its 15Q2 Quarterly Report<\/a>:<\/p>\n

Brookfield Renewable entered into an automatic purchase plan to allow for purchases of its Series 1, Series 2, and Series 3 Class A Preference Shares. The automatic purchase plan commenced on July 1, 2015 and will terminate on August 6, 2015. Subsequent to June 30, 2015, 75,537 Class A Preference Shares and 22,900 LP Units were repurchased and cancelled.<\/p><\/blockquote>\n

News of their Normal Course Issuer Bid was reported on PrefBlog on June 23<\/a> and the automatic purchase plan reported June 29<\/a>; neither announcement was given its own post because these things are usually just window dressing.<\/p>\n

In this case however, things actually got done. Poking around on the System for Electronic Disclosure by Insiders website<\/a> enabled me to prepare a summary of their actions<\/a>, which may be condensed into the following table:<\/p>\n

\n\n\n\n\n\n\n\n\n\n
Ticker<\/td>\nDate<\/td>\nPrice
Range<\/td>\n		Cancelled
Shares<\/td>\n<\/tr>\n
BRF.PR.A<\/td>\n2015-7-15<\/td>\n17.41-18.61<\/td>\n11,300<\/td>\n<\/tr>\n
BRF.PR.A<\/td>\n2015-7-31<\/td>\n17.37-17.95<\/td>\n13,700<\/td>\n<\/tr>\n
BRF.PR.B<\/td>\n2015-7-15<\/td>\n16.06-16.85<\/td>\n2,800<\/td>\n<\/tr>\n
BRF.PR.B<\/td>\n2015-7-31<\/td>\n15.57-16.35<\/td>\n3,100<\/td>\n<\/tr>\n
BRF.PR.C<\/td>\n2015-7-15<\/td>\n20.80-21.35<\/td>\n9,767<\/td>\n<\/tr>\n
BRF.PR.C<\/td>\n2015-7-31<\/td>\n19.80-20.80<\/td>\n21,534<\/td>\n<\/tr>\n
Total<\/td>\n62,201<\/b><\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The total is less than the seventy-five thousand odd disclosed in their quarterly report; I assume that this is a result of cancellations of shares purchased subsequent to July 31.<\/p>\n

Remaining Holdings as of 2015-7-31 are:<\/p>\n

\n\n\n\n\n\n
Ticker<\/td>\nHoldings<\/td>\n<\/tr>\n
BRF.PR.A<\/td>\n3,618<\/td>\n<\/tr>\n
BRF.PR.B<\/td>\n600<\/td>\n<\/tr>\n
BRF.PR.C<\/td>\n3,900<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

So … seventy-five thousand shares at $20 comes to about $1.5-million. This is not the most earthshaking corporate action ever announced, but NCIBs that are actually executed by operating companies are very rare!<\/p>\n","protected":false},"excerpt":{"rendered":"

Brookfield Renewable Energy Partners L.P. has published its 15Q2 Quarterly Report: Brookfield Renewable entered into an automatic purchase plan to allow for purchases of its Series 1, Series 2, and Series 3 Class A Preference …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-30137","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/30137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30137"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/30137\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}