Mr. Michael Cooper reports
DREAM UNLIMITED CORP. RENEWS NORMAL COURSE ISSUER BID
Dream Unlimited Corp. has been told that the Toronto Stock Exchange (TSX) has accepted its notice of intention to make a normal course issuer bid. Under the bid, Dream will have the ability to purchase for cancellation up to a maximum of 3,789,759 of its Class A subordinate voting shares (representing 5 per cent of Dream's 75,795,177 issued and outstanding Class A subordinate voting shares as at Aug. 24, 2015) through the facilities of the TSX at prevailing market prices and in accordance with the rules and policies of the TSX.
The actual number of Class A subordinate voting shares that may be purchased and the timing of any such purchases will be determined by Dream, subject to a maximum daily purchase limitation of 28,927 shares which equals 25 per cent of the average daily trading volume during the period from Feb. 1, 2015, to July 31, 2015 (being 115,706 shares per day), except where purchases are made in accordance with "block purchase" exemptions under applicable TSX rules. The bid will commence on Sept. 2, 2015, and remain in effect until the earlier of Sept. 1, 2016, or the date on which Dream has purchased the maximum number of shares permitted under the bid.
Dream intends to make the bid because it believes that shares may become available during the period of the bid at prices that would make the purchase of such shares for cancellation in the best interests of Dream and its shareholders.
As of Aug. 26, 2015, under its prior normal course issuer bid which terminates on Sept. 1, 2015, Dream purchased for cancellation 559,800 Class A subordinate voting shares at an average weighted price of $9.14 for a total cost of $5.1-million.
We seek Safe Harbor.
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