Ridley Inc. Announces Normal Course Issuer Bid
(firmenpresse) - MANKATO, MINNESOTA -- (Marketwired) -- 12/11/14 -- Ridley Inc. (TSX: RCL) announced today that the Toronto Stock Exchange (the "TSX") has accepted notice of the Company's intention to make a normal course issuer bid through the facilities of the TSX. The bid will permit the Company to purchase for cancellation up to 639,499 common shares of the Company, representing approximately 5% of the
Company's issued and outstanding common shares (being 12,789,978 shares as at December 9, 2014). Daily purchases will be limited to 1,000 common shares, other than block purchases.
Purchases pursuant to the normal course issuer bid may commence on December 16, 2014 and will terminate on December 15, 2015 or on such earlier date as the Company may complete its purchases or otherwise terminate the bid. The Company will pay market price at the time of acquisition for any shares purchased under the normal course issuer bid. To the knowledge of the Company, no director, senior officer or other insider of the Company currently intends to sell any common shares under the bid. Pursuant to the Company's normal course issuer bid, which commenced on December 16, 2013, the Company did not purchase shares in the previous twelve-month period. The average daily trading volume for the prior six months was 949 shares.
The Company believes that the purchase of the common shares by the Company will enhance the liquidity of the common shares. In addition, the Company believes that the current market conditions provide opportunities for the Company to acquire common shares at attractive prices and that the purchases are an appropriate use of funds.
Ridley Inc. (), headquartered in Mankato, Minnesota, is one of North America's leading commercial animal nutrition companies.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligations to update or revise them to reflect new events or circumstances.
Contacts:
Ridley Inc.
Steven J. VanRoekel
President & CEO
(507) 388-9400
Ridley Inc.
Gordon Hildebrand
Chief Financial Officer
(507) 388-9400
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Unternehmensinformation / Kurzprofil:
Datum: 11.12.2014 - 23:12 Uhr
Sprache: Deutsch
News-ID 359012
Anzahl Zeichen: 0
contact information:
Town:
MANKATO, MINNESOTA
Kategorie:
Livestock
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