Section – 100 Normal Course Exemption – Don’t Exceed 5% in 12Months

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  • 100 – Normal Course Exemption – Don’t Exceed 5% in 12 Months
  • Even though what you own together with what you buy will come out to more than 20, we’ll exempt you from takeover bid requirements if you buy no more than 5% of shares in any 12 month period and price you pay does not exceed market price
  • If market is dumb enough to let you keep doing it, then fine we don’t care, not at a premium

Ex. Exam Q: A(2%); B(4%)^H(3%)

  • Always get to 19.9% with fewest purchasers poss (enter with 5/fewer sellers) – therefore, own most amount without triggering T/o bid

You can grab notes on other topic from here.

 


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