Canada's High Liner Foods on 28 January said it has received approval from the Toronto Stock Exchange to purchase up to 250,000 of the 15,128,869 issued and outstanding common shares of the company, representing about 3 percent of the public float as of 22 January.
High Liner will pay the market price for the shares at the time of acquisition. Purchases may begin on 31 January and will end no later than 30 January 2014.
“The board of directors and senior management of High Liner are of the opinion that from time to time the purchase of its shares at the prevailing market price is in the best interest of High Liner and its shareholders. In the last 12 months, High Liner has acquired 29,100 non-voting equity shares at a weighted average rate of CAD 17.50 (USD 17.45, EUR 12.94) per share and no common shares under the terms of a normal course issuer bid that expires on 30 January 2013,” said the company.
