Stock BuybacksBy The Online Investor Staff, updated Wed., May. 27, 10:48 AM
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Slide #2. SECURE Energy Services Inc.
SECURE Energy Services Inc. (TSE:SES.CA)
Share Amount Authorized:
SECURE Energy Services Inc. ("SECURE" or the "Corporation") (TSX SES) announced today that the Toronto Stock Exchange ("TSX") has accepted for filing the Corporation's notice of intention to make a normal course issuer bid ("NCIB"). The NCIB effectively renews the existing NCIB, which is scheduled to end on May 27, 2020. Pursuant to the renewed NCIB, SECURE may repurchase from time to time up to a maximum of 10,796,069 common shares of the Corporation ("common shares"), representing 10% of the Corporation's public float of 107,960,696 common shares at May 15, 2020. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading platforms on which the common shares are traded, based on the prevailing market price, at such times and in such quantities as the Corporation may determine, subject to applicable regulatory restrictions. Under TSX rules, not more than 185,743 common shares (being 25% of the average daily trading volume on the TSX of 742,975 common shares for the six months ended April 2020) can be purchased on the TSX on any single trading day under the NCIB, except that one block purchase in excess of the daily maximum is permitted per calendar week. Any common shares purchased under the NCIB will be cancelled.
Secure Energy Services is an energy services company that focuses on providing specialized services to oil and natural gas companies operating in the Western Canadian Sedimentary Basin. The services provided by Co. include clean oil terminalling, custom treating of crude oil, crude oil marketing, produced and waste water disposal, oilfield waste processing, landfill disposal and the purchase and resale of crude oil. Co. also provides a range of these services in each of its operating facilities throughout Alberta and British Columbia. Co. operates three types of facilities: full service terminals, stand alone water disposal facilities and class I and II landfills.
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