OceanaGold Announces Share Buyback Program
OceanaGold (TSX: OGC) (OTCQX: OCANF) has announced a share buyback program approved by the Toronto Stock Exchange. The company plans to repurchase up to 35.5 million common shares, representing approximately 5% of its outstanding shares and public float. The Normal Course Issuer Bid (NCIB) will be conducted over the next 12 months through the TSX or alternative Canadian trading systems. OceanaGold has also entered into an Automatic Share Purchase Plan (ASPP) with a designated broker to facilitate repurchases during blackout periods. The company's CEO, Gerard Bond, stated that this initiative aligns with their capital allocation framework, supported by expected free cash flow and strong metal prices.
OceanaGold (TSX: OGC) (OTCQX: OCANF) ha annunciato un programma di riacquisto di azioni approvato dalla Borsa di Toronto. L'azienda prevede di riacquistare fino a 35,5 milioni di azioni ordinarie, che rappresentano circa il 5% delle azioni in circolazione e del flottante pubblico. L'Offerta Normale per l'Emittente (NCIB) sarà effettuata nei prossimi 12 mesi attraverso la TSX o altri sistemi di trading canadese. OceanaGold ha anche stipulato un Piano di Acquisto Automatico di Azioni (ASPP) con un broker designato per facilitare i riacquisti durante i periodi di blackout. Il CEO dell'azienda, Gerard Bond, ha dichiarato che questa iniziativa è in linea con il loro framework di allocazione del capitale, supportata da un previsto flusso di cassa libero e da forti prezzi dei metalli.
OceanaGold (TSX: OGC) (OTCQX: OCANF) ha anunciado un programa de recompra de acciones aprobado por la Bolsa de Valores de Toronto. La compañía planea recomprar hasta 35,5 millones de acciones ordinarias, lo que representa aproximadamente el 5% de sus acciones en circulación y del flotante público. La Oferta Normal del Emisor (NCIB) se llevará a cabo durante los próximos 12 meses a través de la TSX o sistemas de comercio canadienses alternativos. OceanaGold también ha establecido un Plan de Compra Automática de Acciones (ASPP) con un corredor designado para facilitar las recompras durante los períodos de restricción. El CEO de la compañía, Gerard Bond, declaró que esta iniciativa está alineada con su marco de asignación de capital, respaldada por un flujo de caja libre esperado y fuertes precios de los metales.
OceanaGold (TSX: OGC) (OTCQX: OCANF)는 토론토 증권 거래소에서 승인한 자사주 매입 프로그램을 발표했습니다. 회사는 3,550만 주의 보통주를 재매입할 계획이며, 이는 약 5%에 해당하는 발행 주식 및 공공 유동주식의 비율입니다. 정상적 발행자 입찰(누비)는 향후 12개월 동안 TSX 또는 대체 캐나다 거래 시스템을 통해 진행될 예정입니다. OceanaGold는 또한 정해진 브로커와 함께 차단 기간 동안 재매입을 용이하게 하기 위한 자동주 매입 계획(ASPP)을 체결했습니다. 회사의 CEO인 제라드 본드는 이 이니셔티브가 예상되는 자유 현금 흐름과 강한 금속 가격에 의해 지원되는 자본 배분 프레임워크와 일치한다고 밝혔습니다.
OceanaGold (TSX: OGC) (OTCQX: OCANF) a annoncé un programme de rachat d'actions approuvé par la Bourse de Toronto. L'entreprise prévoit de racheter jusqu'à 35,5 millions d'actions ordinaires, représentant environ 5% de ses actions en circulation et de son flottant public. L'Offre Normale de l'Émetteur (NCIB) sera réalisée au cours des 12 prochains mois par l'intermédiaire de la TSX ou d'autres systèmes de négociation canadiens alternatifs. OceanaGold a également conclu un Plan d'Achat d'Actions Automatique (ASPP) avec un courtier désigné pour faciliter les rachats pendant les périodes de blackout. Le PDG de l'entreprise, Gerard Bond, a déclaré que cette initiative s'inscrivait dans leur cadre d'allocation de capital, soutenue par un flux de trésorerie libre attendu et de forts prix des métaux.
OceanaGold (TSX: OGC) (OTCQX: OCANF) hat ein Aktienrückkaufprogramm angekündigt, das von der Toronto Stock Exchange genehmigt wurde. Das Unternehmen plant, bis zu 35,5 Millionen Stammaktien zurückzukaufen, was ungefähr 5% seiner ausstehenden Aktien und des öffentlichen Streubesitzes entspricht. Das Normal Course Issuer Bid (NCIB) wird in den nächsten 12 Monaten über die TSX oder alternative kanadische Handelssysteme durchgeführt. OceanaGold hat außerdem einen Automatischen Aktienkauplan (ASPP) mit einem bestimmten Broker abgeschlossen, um Rückkäufe während der Blackout-Perioden zu erleichtern. Der CEO des Unternehmens, Gerard Bond, erklärte, dass diese Initiative mit ihrem Kapitalzuweisungsrahmen in Einklang steht, unterstützt durch erwartete freie Cashflows und starke Metallpreise.
- Approval to buy back 35.5 million common shares (5% of outstanding shares)
- Implementation of Automatic Share Purchase Plan (ASPP) for efficient repurchases
- Strong balance sheet following Didipio IPO and Blackwater sale
- Expected strong free cash flow in coming years
- Commitment to funding organic growth projects and maintaining dividends
- Potential reduction in cash reserves due to share buyback program
In connection with the NCIB, the Company has entered into an Automatic Share Purchase Plan ("ASPP") with a designated broker to allow for the repurchase of Common Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods.
Gerard Bond, President and Chief Executive Officer of OceanaGold, said "With the balance sheet further strengthened following the recent completion of the Didipio IPO and Blackwater sale, the initiation of a share buyback program is consistent with our capital allocation framework. With the Free Cash Flow we expect to deliver in the coming years and today's strong metal prices, the Company is well positioned to continue funding our attractive organic growth projects, maintain a strong balance sheet and the current dividend, and increase returns to shareholders via a buyback."
The Company has received approval from the TSX, during the 12-month period commencing on July 24, 2024 and ending on or before July 23, 2025, to purchase Common Shares through the facilities of the TSX and alternative Canadian trading systems. Under the terms of the NCIB, the Company may purchase up to a daily maximum of 361,487 Common Shares (being
The ASPP will terminate on the earliest of the date on which: (i) the purchase limit under the NCIB has been reached; (ii) the NCIB expires; and (iii) the ASPP otherwise terminates in accordance with its terms. The ASPP constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and the agreement governing the plan has been pre-cleared by the TSX.
The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company in accordance with applicable laws and the ASPP. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any Common Shares that are purchased under the NCIB will be cancelled.
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release may be deemed "forward-looking" within the meaning of applicable securities laws. All statements other than statements of historical facts included in this news release constitute forward-looking statements, including but not limited to the future price of gold, information relating to future performance and reflect the Company's expectations regarding the generation of free cash flow, execution of business strategy, future growth, future production, estimated costs, results of operations, business prospects and opportunities of OceanaGold and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of Mineral Reserve and Mineral Resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company's most recent Annual Information Form prepared and filed with securities regulators, which is available on SEDAR+ at www.sedarplus.com under the Company's name. There are no assurances the Company can fulfil forward-looking statements and information. Such forward-looking statements and information are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Although the Company believes that any forward-looking statements and information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. The information contained in this release is not investment or financial product advice.
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SOURCE OceanaGold Corporation
FAQ
What is the size of OceanaGold's share buyback program announced on July 22, 2024?
When will OceanaGold's (OCANF) share buyback program begin and end?
What is the daily maximum number of shares OceanaGold can purchase under the NCIB?
How does the Automatic Share Purchase Plan (ASPP) benefit OceanaGold's buyback program?
