Stelco Holdings Inc. Announces Final Results of its Substantial Issuer Bid – QNT Press Release

HAMILTON, ON, Jan. 28, 2022 /CNW/ – Stelco Holdings Inc. (TSX:STLC) (“Stelco” or the “Company“) announced today the final results of its “modified Dutch auction” substantial issuer bid (the “Offer“). Pursuant to the Offer, the Company has taken up 4,441,023 common shares (the “Shares“) at a price of $37.00 per Share. The Offer expired at 11:59 pm (Toronto time) on January 26, 2022.

The Shares purchased under the Offer represent an aggregate purchase price of approximately $164,317,851 and represented 5.7% of the total number of the Company’s issued and outstanding Shares as of January 26, 2022. After giving effect to the Offer, the Company has 72,874,242 Shares issued and outstanding.

Payment and settlement of the Shares will be effected by Computershare Investor Services Inc. prior to February 2, 2022 in accordance with the settlement procedures described in the Offer.

The “specified amount” for purposes of subsection 191(4) of the Income Tax Act (Canada) in respect of each Share is $33.18.

Details of the Offer are described in the offer to purchase and issuer bid circular dated December 21, 2021

Full story available on

Source link

Recommended For You

About the Author: News Center