Talisman Energy Files for Renewal of Normal Course Issuer Bid
Talisman Energy has made the necessary filings to renew its Normal Course Issuer Bid.
Pursuant to the Normal Course Issuer Bid, which Talisman has renewed routinely, Talisman may purchase for cancellation, during the 12-month period commencing December 2, 2009 and ending December 1, 2010, up to 50,945,743 of its common shares, representing 5% of the common shares outstanding as at November 18, 2009. The daily purchase limit is 957,476 common shares, representing 25% of the average daily trading volume for the six calendar months prior to the approval of the bid by the TSX. As at November 18, 2009 there were approximately 1,018,914,864 common shares issued and outstanding.
Purchases under the Normal Course Issuer Bid will be made through the facilities of the Toronto Stock Exchange and the New York Stock Exchange. The purchase and payment for the common shares will be made by the Company in accordance with the policies of the exchange through which the common shares are purchased. Talisman believes that the repurchase of its shares is one way of creating shareholder value.
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