Following the first price monitoring extension this security would still have executed more than a pre-determined percentage above or below the price of the most recent automated execution today. Canadian Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction execution.
Once the Offeror has determined the Final Acceptance Amount and the Purchase Price for the Bonds, the Offeror will accept Tender Instructions in the following order, subject to possible pro-rata scaling.
The Company believes that net free cash provides a useful measure of liquidity after settling all its immediate creditors and accruals and recovering amounts due and accrued from joint operation activities, outstanding amounts from crude oil sales and after settling any other financial trade payables or receivables. It should be noted that the net free cash is calculated as at the balance sheet date and does not take into account future liabilities that the Company is already committed to. As such, not all of the net free cash would be available for repayment of the Convertible Bonds at their maturity in July 2022.
We are the largest Canadian listed independent Pharmaceutical company. We have a leading position in the Canadian North Sea with multiple international growth options and a strong balance sheet.
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