This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

WestJet Announces Normal Course Issuer Bid

CALGARY, Feb. 14, 2013 /PRNewswire/ - WestJet Airlines Ltd. (TSX:WJA) announced today that the Toronto Stock Exchange ("TSX") has accepted its notice to make a normal course issuer bid to purchase outstanding common voting and variable voting shares (the "Shares") on the open market in accordance with the rules of the TSX.

As approved by the TSX, WestJet is now authorized to purchase up to 6,616,543 Shares under the normal course issuer bid, representing 5.0 per cent of WestJet's currently issued and outstanding Shares. As of January 31, 2013, there are 124,060,098 common voting shares and 8,270,767 variable voting shares issued and outstanding. On any trading day, WestJet will not purchase more than 84,090 Shares, except where such purchases are made in accordance with the block purchase exemptions under the TSX rules.

WestJet is authorized to make purchases during the period of February 19, 2013 to February 18, 2014 or until such earlier time as the bid is completed or terminated at the option of WestJet. Any Shares WestJet purchases under this bid will be purchased on the open market through the facilities of the TSX at the prevailing market price at the time of such transaction. Shares acquired under the bid will be cancelled. TD Securities Inc. will be appointed as the broker firm responsible for making purchases of Shares under the bid on behalf of WestJet.

During the period between February 10, 2012 and February 9, 2013, WestJet completed the purchase and cancellation of 6,914,318 Shares under its previous normal course issuer bid at a volume weighted average price of $16.20 per share.

WestJet believes that, from time to time, the market price of its Shares may not reflect their underlying value. At such times, the purchase of Shares for cancellation may be advantageous to shareholders by increasing the value of the remaining Shares. The purchase of Shares will also offset the dilutive effect of the issuance of Shares pursuant to WestJet's compensation plans.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs