| Agrium Receives Issuer Bid Exemption for Share Buyback | |
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Agrium Inc. AGU declared that the Ontario Securities Commission has granted it an issuer bid exemption order dated Aug 21, 2015. This would enable the company to make private agreement purchases of its common shares from a third-party seller under the company's existing Normal Course Issuer Bid ("NCIB"). Also, all shares purchased following the order will be cancelled.
Per the NCIB, while making any purchase of common shares through the Toronto Stock Exchange (“TSX”), the New York Stock Exchange (“NYSE”) or any other trading platforms, Agrium will pay the market price at the time of purchase. However, in accordance with the order, any private purchase of common shares by Agrium under the NCIB will be made at a discounted price.
The transaction will further reduce the number of common shares that Agrium is allowed to buy under the bid. Also, the company is entitled to one transaction per week. According to the terms of the bid, Agrium can buy back a total of 1,140,000 common shares up to Nov 30, 2015.
The bid further states that the maximum common shares that Agrium may buy back via all private agreements following the bid cannot surpass 2,395,288 during the currency of Agrium's NCIB, being one-third of 7,185,866 – the total number of common shares which may be purchased under the NCIB.
Agrium had earlier received an issuer bid exemption order from the Ontario Securities Commission dated Jun 12, 2015 that entitled the company to buy back up to 1,175,000 of its common shares, including all private agreements, from a third-party seller. Agrium has bought all 1,175,000 common shares under this order, to date.
Agrium currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the basic materials sector include CVR Partners, LP UAN, Rentech Nitrogen Partners, L.P. RNF and Innospec Inc. IOSP, all sporting a Zacks Rank #1 (Strong Buy).
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Agrium Inc.
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CODE : AGU.TO |
ISIN : CA0089161081 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Agrium Inc. est une société de production minière basée au Canada. Agrium Inc. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 20,0 milliards CA$ (15,9 milliards US$, 13,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 29 décembre 2000 à 10,00 CA$, et son plus haut niveau récent le 29 décembre 2017 à 144,58 CA$. Agrium Inc. possède 138 175 400 actions en circulation. |