Q: Hi guys. Any red flags with High Liner's results? Is lowering the company's debt levels from 4.4x to 4x from the end of 2014 to the end of 2015 acceptable progress in lowering debt levels?
Lastly, when companies announce share buybacks, they normally say they may purchase up to a maximum number of 5% or 10% of the shares outstanding. Now normally, come the end of the year, most of those same companies dont come anywhere close to fulfilling the maximum number of shares they could have purchased. So given there is no obligation to purchase the maximum number of shares in the NCIB plan, any ideas why would High Liner Foods announce a share buyback program with the ability of only buying 150,000 shares, or 0.86% of the company's float?
Thanks again for your thoughts and insights.
John
Lastly, when companies announce share buybacks, they normally say they may purchase up to a maximum number of 5% or 10% of the shares outstanding. Now normally, come the end of the year, most of those same companies dont come anywhere close to fulfilling the maximum number of shares they could have purchased. So given there is no obligation to purchase the maximum number of shares in the NCIB plan, any ideas why would High Liner Foods announce a share buyback program with the ability of only buying 150,000 shares, or 0.86% of the company's float?
Thanks again for your thoughts and insights.
John