Amaya Inc. announced that it has terminated the automatic share purchase plan which it had entered into on June 1 for the purpose of facilitating repurchases of its common shares.
Regardless of the termination of the APP, Amaya’s normal course issuer bid remains in effect on the same terms and subject to the same TSX restrictions as previously announced and disclosed, the company said.
“Consistent with its previously announced plans to maximize shareholder value by facilitating the repayment of indebtedness and/or the repurchase and cancellation of Common Shares, Amaya may choose to use excess available cash to repurchase additional Common Shares under the NCIB at the times and in the amounts it determines in its discretion.”
The NCIB will remain effective until February, 2016, or the date on which Amaya has purchased the maximum number of common shares permitted.
Amaya has purchased and cancelled a total of 1,455,300 common shares under the NCIB for an aggregate purchase price of approximately CAD$45.5 million.
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