KERM'S KORNER Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KERM'S KORNER

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kerm Yerman who wrote (3848)	7/2/1997 5:38:00 PM
From: Kerm Yerman	of 15196

CORP. / PHOENIX PLANS OPEN MARKET SHARE PURCHASES 1997-07-02 TORONTO, ONTARIO Phoenix Canada Oil of Toronto says that The Toronto Stock Exchange has accepted the notice of the Company's intention to make a Normal Course Issuer Bid over the year starting July 4 to buy up to 200,000 of its shares on the open market, representing about 3.8% of the outstanding shares. Phoenix says that the Company's audited cash position, cash equivalents and other liquid assets establish that its shares are currently undervalued in the market and that the proposed share buy-back is considered an appropriate use of Company funds and in the shareholders' interest. Phoenix says that it is informed that no insiders, including Directors and Officers, or their affiliates or associates, intend to sell any shares under the buy-back proposal. Share purchases will be made at the discretion of management from the Company's cash working capital position. 7,900 shares were purchased at an average cost of $1.31 under a similar share buy- back plan in effect during the year which ended 25 June 1997.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next