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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Scripts who wrote (728)9/8/1998 3:51:00 PM
From: Eashoa' M'sheekha  Read Replies (2) of 3558
 
Share buyback program

Barrick Gold Corp

ABXShares issued 372,817,1721997-12-10 close $22.8

Thursday Dec 11 1997

Mr Peter Munk reports Barrick Gold plans to undertake a normal course issuer bid to allow the company to buy back its common shares. The shares are trading in a price range that does not reflect the value of the company's mining and financial assets and future business prospects. Barrick has the financial strength to undertake this program. Barrick plans to file a notice of intention with the TSE to permit purchases to occur during a one year period following receipt of TSE approval. The notice will provide that the company may purchase its shares at prevailing market prices up to a total of 31,000,000 common shares, representing approximately 10% of Barrick's public float, through the facilities of the TSE. The actual number of common shares purchased and the timing of any such purchases will be determined by Barrick. Barrick also plans to file a notice of intention with applicable securities regulatory authorities to permit purchases to be made through the facilities of the New York Stock Exchange and other stock exchanges on which its shares are listed. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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