VANCOUVER, British Columbia, Sept. 21, 2022 (GLOBE NEWSWIRE) — Methanex Company (the “Firm” or “Methanex”) (TSX:MX) (NASDAQ:MEOH) introduced right now that the Toronto Inventory Trade (the “TSX”) has accepted the Firm’s beforehand introduced Regular Course Issuer Bid (“NCIB”).
Pursuant to the NCIB, today techs the Firm will buy for cancellation as much as 3,506,405 frequent shares (“Shares”), representing 5% of the 70,128,109 Shares issued and excellent as of September 15, 2022. Purchases might be made on the open market by means of the services of the TSX and can begin on September 26, 2022 and finish no later than September 25, 2023. Any purchases might be made every now and then on the then present market value of the Shares and all Shares bought below the NCIB might be cancelled. Topic to sure exceptions for block purchases, any day by day purchases below the NCIB by means of the TSX won’t exceed 54,902 Shares, representing 25% of the Firm’s common day by day buying and selling quantity on the TSX for the six month interval ended on August 31, 2022. The Firm intends to enter into an automated securities buy plan with its dealer in reference to purchases to be made below the NCIB.
John Floren, President and CEO of Methanex, commented, “Right now’s announcement displays the energy of our steadiness sheet and builds on our lengthy observe file of returning extra money to shareholders.”
Below the NCIB initiated by the Firm on September 24, 2021, which accomplished on July 26, 2022, the Firm repurchased for cancellation 3,810,464 Shares by means of the services of the NASDAQ International Choose Market and various buying and selling techniques in america at a today techs quantity weighted common value of US$47.83, and a pair of,283,707 Shares by means of the services of the TSX at a quantity weighted common value of CAD$56.14.
Methanex is a Vancouver-based, publicly traded firm and is the world’s largest producer and provider of methanol to main worldwide markets. Methanex shares are listed for buying and selling on the Toronto Inventory Trade in Canada below the buying and selling image “MX” and on the NASDAQ International Choose Market in america below the buying and selling image “MEOH”. Methanex may be visited on-line at www.methanex.com.
FORWARD-LOOKING INFORMATION WARNING
This press launch accommodates sure forward-looking statements with respect to us and our business. today techs These statements relate to future occasions or our future efficiency. All statements apart from statements of historic truth are forward-looking statements. Statements that embrace the phrase “will” or different comparable terminology and related statements of a future or forward-looking nature determine forward-looking statements. Extra notably and with out limitation, any statements concerning the next are forward-looking statements:
- Methanex’s anticipated money flows, money balances, earnings functionality, debt ranges and share value,
- Methanex’s monetary energy and skill to fulfill future monetary commitments, and
- Methanex’s shareholder distribution technique and anticipated distributions to shareholders.
We consider that we’ve got an affordable foundation for making such forward-looking statements. The forward-looking statements on this doc are based mostly on our expertise, our notion of traits, present circumstances and anticipated future developments in addition to different components. Sure materials components or assumptions had been utilized in drawing the conclusions or making the forecasts or projections which might be included in these forward-looking statements, together with, with out limitation, future expectations and assumptions regarding the following:
- the availability of, demand for, and value of methanol, methanol derivatives, pure fuel, coal, oil and oil derivatives,
- working charges of our services,
- working prices together with pure fuel feedstock and logistics prices, capital prices, tax charges, money flows, international change charges and rates of interest,
- the anticipated timing and capital price of our Geismar 3 Challenge, and
- international and regional financial exercise (together with industrial today techs manufacturing ranges) and GDP development.
Nonetheless, forward-looking statements, by their nature, contain dangers and uncertainties that might trigger precise outcomes to vary materially from these contemplated by the forward-looking statements. The dangers and uncertainties primarily embrace these attendant with producing and advertising methanol and efficiently finishing up main capital expenditure initiatives in varied jurisdictions, together with with out limitation:
- circumstances within the methanol and different industries today techs together with fluctuations within the provide, demand for and value of methanol and its derivatives, together with demand for methanol for vitality makes use of,
- the worth of pure fuel, coal, oil and oil derivatives,
- our potential to acquire pure fuel feedstock on commercially acceptable phrases to underpin present operations and future development alternatives,
- the flexibility to efficiently perform company initiatives and methods,
- actions of rivals, suppliers and monetary establishments,
- world-wide financial circumstances, and
- different dangers described in our 2021 Annual Administration’s Dialogue and Evaluation and our Second Quarter 2022 Administration’s Dialogue and Evaluation.
Having in thoughts these and different components, buyers and different readers are cautioned to not place undue reliance on forward-looking statements. They aren’t an alternative to the train of 1’s personal due diligence and judgment. The outcomes anticipated in forward-looking statements could not happen and we don’t undertake to replace forward-looking statements besides as required by relevant securities legal guidelines.
For additional data, contact:
Director, Investor Relations
604 661-2600 or Toll Free: 1 800 661 8851