Western Coal Announces Commencement of Share Buy Back Program
Western will purchase the common shares at market price at the time of acquisition under the normal course issuer bid, which will be conducted through the facilities of the TSX and AIM. The maximum number of common shares that may be purchased on a daily basis, subject to any approved exemptions is 1,198,087. The actual number of common shares that may be purchased and the timing of any such purchases will be determined by Western. Any common shares purchased under the normal course issuer bid will be cancelled. Western has not made any purchases of common shares under a normal course issuer bid in the previous twelve month period.
* Public float as at December 16, 2009 (as defined under applicable TSX rules) = 185,858,484 common shares, which is 323,146,816 common shares outstanding less 72,122,826 common shares owned by Cambrian Mining Ltd (a wholly owned subsidiary of Western) less 61,856,862 common shares owned by Audley Capital LLP less 3,308,644 common shares owned by Company Insiders.
About Western
Western is a producer of high quality metallurgical and thermal coal from mines located in northeast British Columbia (
For further information: David Jan, Director, Investor Relations, (604) 608-2692, [email protected]
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