West Fraser Declared Automatic Share Purchase Plan
The purchases have to be made during the one-year period from February 17, 2021 to February 16, 2022.
SEATTLE (Scrap Monster): West Fraser Timber Co. Ltd. announced that it has entered into an automatic share purchase plan with a broker so as to facilitate repurchases of the company’s common shares.
The company had earlier received approval from the Toronto Stock Exchange to purchase up to 6.044 million of its shares, representing approximately 5% of the company’s issued and outstanding shares. The purchases have to be made during the one-year period from February 17, 2021 to February 16, 2022.
The share purchases will be made on the open market through the facilities of the Toronto Stock Exchange, the New York Stock Exchange or eligible Canadian or U.S. alternative trading systems, conforming to the requirements of the TSX and applicable securities laws, the company press release said.
Under the plan, the broker may indulge in share purchases during the one year period, including at times when the company would not be active in the market due to insider trading restrictions and company’s internal trading blackout periods. The purchases will be made at such prices, parameters and trading instructions as determined from time to time in the discretion of the company in accordance with the applicable securities rules.
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