Current Report Filing (8-k)
August 20 2020 - 9:06AM
Edgar (US Regulatory)
0001046102
false
true
0001046102
2020-08-20
2020-08-20
0001046102
rba:CommonSharesMember
2020-08-20
2020-08-20
0001046102
rba:CommonSharePurchaseRightsMember
2020-08-20
2020-08-20
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
August 20, 2020
Ritchie
Bros. Auctioneers Incorporated
(Exact Name of Registrant as Specified in Its Charter)
Canada
|
|
001-13425
|
|
98-0626225
|
(State or other jurisdiction of incorporation)
|
|
(Commission File Number)
|
|
(I.R.S. Employer Identification)
|
9500 Glenlyon Parkway, Burnaby, British Columbia, Canada V5J0C6
(Address of principal executive offices)
(Zip Code)
(778) 331-5500
(Registrant’s Telephone Number,
Including Area Code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
|
¨
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
¨
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
|
|
¨
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
|
|
¨
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common shares
|
RBA
|
New York Stock Exchange
|
Common Share Purchase Rights
|
N/A
|
New York Stock Exchange
|
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
On August 20, 2020, Ritchie Bros. Auctioneers
Incorporated (“we” or the “Company”) issued a news release announcing that it has obtained the approval
of the Toronto Stock Exchange (the “TSX”) to commence a normal course issuer bid (“NCIB”) beginning on
August 24, 2020 and terminating August 23, 2021 or such earlier date as the Company may complete its purchases thereunder or as
it may otherwise determine. The NCIB will allow the Company to use its share repurchase program to primarily neutralize share dilution
from options, as all common shares of the Company purchased under the new NCIB will be cancelled.
Under the NCIB, the Company may purchase
up to the lesser of 5,441,249 common shares (such amount representing 5% of the common shares of the Company issued and outstanding
as of August 11, 2020) and that number of common shares worth an aggregate of US$100 million. Purchases under the NCIB may be made
at the then current market price of the Company’s common shares through the facilities of the TSX, the New York Stock Exchange
or alternative trading platforms in Canada or the United States by means of open market transactions or by such other means as
may be permitted by the TSX and applicable Canadian and U.S. securities laws.
A copy of the news release containing further
details is attached as Exhibit 99.1 and incorporated by reference.
|
Item 9.01
|
Financial Statements and Exhibits.
|
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 20, 2020
|
Ritchie Bros. Auctioneers Incorporated
|
|
|
|
|
By:
|
/s/ Darren Watt
|
|
|
Darren Watt
|
|
|
General Counsel & Corporate Secretary
|
RB Global (NYSE:RBA)
Historical Stock Chart
From Aug 2024 to Sep 2024
RB Global (NYSE:RBA)
Historical Stock Chart
From Sep 2023 to Sep 2024