Athabasca Oil Corp. (ATHOF)

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ATHOF to pursue potential share buy backs.

Special Meeting of Shareholders
Athabasca held a Special Meeting of Shareholders on January 8, 2020 whereby shareholders voted in favor of the resolution to reduce stated capital (58% shareholder turnout with 99.8% approval).
The Company now has flexibility under the Business Corporations Act (Alberta) to pursue potential share buy backs. Athabasca believes that, from time to time, the market price of its Common Shares may not fully reflect the underlying value of its business, future prospects and financial position. In such circumstances, Athabasca may purchase for cancellation outstanding Common Shares, thereby benefitting all shareholders by increasing the underlying value of the remaining Common Shares. The Company may look to execute future share buy backs with sustainable free cash flow in the future.

https://www.atha.com/uploads/news-releases/2020/2020-01-08_Athabasca_2020_Budget_FINAL.pdf