Canadian Natural Resources Limited Announces Establishment of Automatic Securities Purchase Plan
04 Ottobre 2018 - 11:00AM
Canadian Natural Resources Limited Announces Establishment of
Automatic Securities Purchase Plan
Canadian Natural Resources Limited (“Canadian Natural" or the
"Company") announces in connection with its previously announced
Normal Course Issuer Bid ("NCIB") to purchase up to 61,424,856 of
its common shares (“Shares"), it entered into an Automatic
Securities Purchase Plan ("ASPP") with a designated broker. The
ASPP is intended to allow for the purchase of Shares under the NCIB
when the Company would ordinarily not be permitted to purchase
shares due to regulatory restrictions and customary self-imposed
blackout periods.
Pursuant to the ASPP, the Company has provided
instructions to the designated broker to make purchases under the
NCIB in accordance with the terms of the ASPP, which may not be
varied or suspended during the term of the ASPP. Such purchases
will be determined by the designated broker at its sole discretion
based on purchasing parameters set by the Company in accordance
with the rules of the Toronto Stock Exchange ("TSX") and New York
Stock Exchange (“NYSE”), applicable securities laws and the terms
of the ASPP. Shares will be purchased through the facilities of the
TSX or other alternative Canadian marketplaces and the NYSE. The
ASPP has been pre-cleared by the TSX and will be implemented on
October 10, 2018, and if not terminated sooner based on the terms
of the ASPP, will end on November 2, 2018.
Outside of pre-determined blackout periods,
Shares may be purchased under the NCIB based on management's
discretion, in compliance with TSX rules and applicable securities
laws. The NCIB commenced on May 23, 2018 and ends on May 22, 2019.
All purchases made under the ASPP will be included in computing the
number of Shares purchased under the NCIB.
Pursuant to the NCIB, the Company has purchased
and cancelled approximately 20.0 million of its Shares for
approximately $874 million (weighted average price of $43.66 per
share) year-to-date September 30, 2018. The Company’s year-to-date
activity includes third quarter Share purchases and cancellations
of approximately 9.9 million Shares for approximately $433 million
(weighted average price of $43.81 per share) and record monthly
Share purchases and cancellations in the month of September 2018 of
approximately 5.7 million Shares for approximately $242 million
(weighted average price of $42.49 per share).
In addition to further strengthening its balance
sheet, investing in exploration and development of its diverse
asset base, and participating in acquisition opportunities, returns
to shareholders remain a priority to create value for Canadian
Natural’s shareholders. The Company targets to remain active in its
purchase of Shares under the NCIB throughout the remainder of 2018,
as the Company believes it to be an effective use of capital and an
efficient means to return value to its shareholders.
Canadian Natural is a senior oil and natural gas
production company, with continuing operations in its core areas
located in Western Canada, the U.K. portion of the North Sea and
Offshore Africa.
CANADIAN NATURAL RESOURCES LIMITED |
2100, 855 - 2nd Street S.W. Calgary, Alberta, T2P4J8Phone:
403-514-7777 Email: ir@cnrl.comwww.cnrl.com |
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STEVE W. LAUTExecutive Vice-Chairman TIM
S. MCKAYPresident COREY B. BIEBERChief
Financial Officer and Senior Vice-President, Finance MARK
A. STAINTHORPEVice-President, Finance – Capital Markets
Trading Symbol - CNQToronto Stock ExchangeNew York Stock
Exchange |
Certain information regarding the Company
contained herein may constitute forward-looking statements under
applicable securities laws. Such statements are subject to
known or unknown risks and uncertainties that may cause actual
results to differ materially from those anticipated or implied in
the forward-looking statements. Refer to our website for complete
forward-looking statements www.cnrl.com
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