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FINWIRES

PHX Energy Services Gets TSX Approval for Renewal of Normal Course Issuer Bid

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PHX Energy Services' (PHX.TO) notice of intention to renew its normal course issuer bid for a further one-year term was approved by the Toronto Stock Exchange, it said after markets closed Thursday.

The renewed NCIB will allow the company to purchase for cancellation up to a maximum of around 4.1 million common shares, representing 10% of its public float of around 41.4 million common shares as at Aug. 6, said the company.

The buyback will begin on Aug. 18, said PHX Energy Services.

The company did not purchase any common shares under its previous NCIB that expires on Aug. 17, it added.

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