TransAlta Corp. said the Toronto Stock Exchange has approved its normal course issuer bid to purchase and cancel up to 14 million of its outstanding common shares for a one-year period from March 14 to March 13, 2019.
As of March 2, TransAlta had 287,903,467 shares outstanding, of which 287,297,124 shares are considered to be in the public float as they are not held by directors, officers or principal shareholders of the company.
As a result, the maximum number of shares that may be repurchased under the normal course issuer bid represents approximately 4.86% of the number of shares currently outstanding, and approximately 4.87% of the public float.
Subject to certain exceptions for block repurchases, the maximum number of shares that may be repurchased under the TSX rules on the same trading day is 102,039 common shares.
