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Baytex Energy Corp. (TSX: BTE) announces obtaining an exemption order allowing the purchase of up to 10% of its public float of common shares through U.S. Markets as part of its shareholder return strategy. The exemption is applicable to the current normal course issuer bid until August 1, 2025, and requires compliance with U.S. and TSX rules.
Baytex Energy Corp. (TSX: BTE) annuncia di aver ottenuto un ordine di esenzione che permette l'acquisto fino al 10% del proprio flottante pubblico di azioni ordinarie tramite i mercati statunitensi come parte della sua strategia di remunerazione degli azionisti. L'esenzione è applicabile all'attuale offerta pubblica di acquisto in corso fino al 1 agosto 2025 e richiede il rispetto delle normative statunitensi e della TSX.
Baytex Energy Corp. (TSX: BTE) anuncia que ha obtenido una orden de exención que le permite comprar hasta el 10% de su flotante público de acciones comunes a través de los mercados de EE. UU. como parte de su estrategia de retorno a los accionistas. La exención es aplicable a la oferta pública de adquisición normal en curso hasta el 1 de agosto de 2025 y requiere el cumplimiento de las normas de EE. UU. y TSX.
Baytex Energy Corp.(TSX: BTE)는 자사의 주주 환원 전략의 일환으로 미국 시장을 통해 보통주 공개 부동산의 최대 10%를 매입할 수 있도록 허용하는 면제 명령을 받았다고 발표했습니다. 이 면제는 2025년 8월 1일까지 현재 진행 중인 정상적인 발행인 매수 입찰에 적용되며, 미국 및 TSX 규정을 준수해야 합니다.
Baytex Energy Corp. (TSX : BTE) annonce avoir obtenu une ordonnance d'exemption lui permettant d'acquérir jusqu'à 10% de son flottant public d'actions ordinaires via les marchés américains, dans le cadre de sa stratégie de retour aux actionnaires. L'exemption est applicable à l'offre publique d'achat en cours jusqu'au 1er août 2025 et nécessite le respect des règlements américains et de la TSX.
Baytex Energy Corp. (TSX: BTE) gibt bekannt, dass sie eine Ausnahmegenehmigung erhalten hat, die den Kauf von bis zu 10% ihres öffentlichen Aktien-Floats über die US-Märkte als Teil ihrer Aktionärsrendite-Strategie erlaubt. Die Ausnahmegenehmigung gilt für das derzeit laufende normale Kursangebot bis zum 1. August 2025 und erfordert die Einhaltung der US- sowie der TSX-Vorschriften.
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Calgary, Alberta--(Newsfile Corp. - April 22, 2024) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") today announced it obtained an exemption order from the Canadian securities regulators which permits Baytex to purchase up to 10 percent of the "public float" (within the meaning of the rules of the Toronto Stock Exchange (the "TSX")) of its common shares through the New York Stock Exchange and other U.S.-based trading systems (together with the New York Stock Exchange, "U.S. Markets") as part of Baytex's shareholder return strategy, including the current normal course issuer bid announced on June 23, 2023 (the "Current Bid"). Absent this exemptive relief, Baytex's purchases under a normal course issuer bid on U.S. Markets would be limited to not more than 5 percent of its outstanding common shares over any twelve-month period.
The exemptive relief expires August 1, 2025 and is applicable to the Current Bid and any subsequent normal course issuer bid in effect until such time. It is conditional upon, among other things, purchases being made in compliance with applicable U.S. rules, the TSX rules applicable to normal course issuer bids, National Instrument 23-101 - Trading Rules and at a price not higher than the market price at the time of purchase. The aggregate number of common shares purchased by Baytex over any exchange or market over the relevant 12-month period of a particular normal course issuer bid may not exceed 10 percent of the public float, as specified in Baytex's notice accepted by the TSX in respect of the relevant normal course issuer bid, including the Current Bid.
Baytex Energy Corp.
Baytex Energy Corp. is an energy company with headquarters based in Calgary, Alberta and offices in Houston, Texas. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
For further information about Baytex, please visit our website at www.baytexenergy.com or contact:
Brian Ector, Senior Vice President, Capital Markets and Investor Relations
What does the exemption order obtained by Baytex Energy Corp. allow?
The exemption order allows Baytex to purchase up to 10% of its public float of common shares through U.S. Markets as part of its shareholder return strategy.
When does the exemptive relief expire?
The exemptive relief expires on August 1, 2025.
Where are Baytex's common shares traded?
Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
baytex energy corp. is a dividend-paying oil and gas corporation based in calgary, alberta. the company is engaged in the acquisition, development and production of crude oil and natural gas in the western canadian sedimentary basin and in the williston basin in the united states. approximately 89% of baytex's production is weighted toward crude oil, with a particular emphasis on heavy oil. baytex pays a monthly dividend on its common shares which are traded on the toronto stock exchange and the new york stock exchange under the symbol bte.
