Aur Resources (TSE) has applied to the Ontario Securities Commission for an order that will exempt it from making formal notice of an issuer bid if it buys back shares held by Teck (TSE) and Cominco (TSE).
Each of these companies holds 1.55 million shares of Aur, which Aur can buy back at $5.13 per share before the end of 1995. The repurchase option was part of the transaction in which Teck acquired a 25% interest in Aur’s Louvicourt mine in northwestern Quebec.
Aur must make a similar application to the British Columbia Securities Commission for the buy-back.
Be the first to comment on "Aur applies to repurchase shares"