Just Energy Group Inc. announced March 15 that it received approval from the Toronto Stock Exchange to renew its normal course issuer bid for common shares and initiate an NCIB for its 6.75% convertible unsecured senior subordinated debentures due Dec. 31, 2021. The common shares NCIB expires March 16.
The company may repurchase a maximum of 10% of the outstanding public float of the securities, representing up to C$16 million of its 6.75% debentures, and up to 9,733,847 of its common shares, according to a news release.
All securities bought under each of the aforementioned NCIBs will be canceled. The repurchasing period will run from March 19, 2018, to March 15, 2019.
