Trez intends to commence the NCIB on August 13, 2020. The NCIB will expire on August 12, 2021 or such earlier date as the Company completes its purchases pursuant to the NCIB. All purchases under the NCIB will be made on the open market through the facilities of the TSX or alternative trading systems in Canada at market prices prevailing at the time of purchase. In accordance with TSX rules, any daily repurchases will be limited to a maximum of 1,000 Shares, based on the average daily trading volume of the Company’s Shares on the TSX for the six months ended July 31, 2020 (being 3,258 Shares). Any Shares purchased by the Company will be cancelled.
On June 16, 2016, the Shareholders of the Company approved the orderly wind-up of the Company. The primary purpose of the NCIB is to distribute net proceeds under the orderly windup plan to Shareholders.
In connection with the NCIB, Trez intends to enter into an automatic purchase plan with its broker on August 13, 2020 to allow for the purchase of Shares at times when Trez ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise, in accordance with applicable Canadian securities laws.
About the Company
On June 16, 2016 the Shareholders of the Company approved the orderly wind-up of the Company. Under the orderly wind-up plan the Company will distribute the net proceeds through special distributions, the repurchase of shares pursuant to the normal course issuer bid, or otherwise.
For further information, please contact:
Chief Executive Officer
Tel: (604) 630-0775