(Corrects to say buyback plan applies to public float in headline and first paragraph.)
Petrominerales Ltd. (PMG), a Calgary-based oil company that operates in the Andean region, said Toronto Stock Exchange accepted its plan to buy back as many as 8,377,935 common shares, or about 10 percent of the public float, according to a press statement today.
Petrominerales may buy as many as 178,469 shares per day from June 1 to May 31, 2013, and shares bought under the plan will be canceled, the company said.
To contact the reporter on this story: Christine Jenkins in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Katerina Petroff at email@example.com