Methanex Enhances Share Repurchase Program

(RTTNews) - Methanex Corp. (MEOH) said it has received approval from the Toronto Stock Exchange to amend the Normal Course Issuer Bid initiated on May 6, 2014 to increase the maximum number of common shares that may be acquired under the bid from 4.83 million common shares to 8.58 million common shares, representing 10 percent of the public float as at April 29, 2014.

Since the commencement of the bid on May 6, 2014, the company has bought back 4.83 million common shares at a weighted average execution price of $57.20 per share.

Under the amended bid, the company will be permitted to repurchase for cancellation up to an additional 3.75 million common shares over the facilities of the TSX up to and including May 5. No other terms of the bid have been amended.