Here are five things to know about the plan:
1. The company previously announced a normal course issue bid for up to $522,325 aggregate principle of its outstanding 5.9 percent convertible unsecured subordinated debentures that are due Dec. 31, 2019.
2. The new automatic securities purchase plan, in conjunction with the company’s broker RBC Capital Markets, will facilitate repurchases of debentures under the normal course issuer bid.
3. The NCIB runs from Dec. 30, 2014 through Dec. 29, 2015.
4. There are automatic plan parameters regarding how debentures may be repurchased when the company would ordinarily not be permitted to purchase debentures due to regulatory restrictions or blackout periods.
5. The restricted or black out periods include the 11th business day following the end of the fiscal quarter until the application quarterly or annual financial results disclosure. There is also a black out period prior to disclosing certain material changes.
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