Teekay LNG Unveils USD 100 Mn Share Repurchase Plan

September 28, 2020 0 Comments

first_imgTeekay LNG Partners has received approval for a USD 100 million repurchase program of common units.The company said that the common units may be repurchased in the open market or privately-negotiated transactions or otherwise at times and prices considered appropriate by the partnership.“The timing of any purchases and the exact number of common units to be purchased under the program will be dependent on market conditions and other factors,” Teekay LNG added.The partnership would establish a trading plan pursuant to Rule 10b5-1 under the U.S. Securities Exchange Act relating to the repurchase of its common units.The common unit repurchase program will help the partnership delever its balance sheet and enable the company to return some of the additional capital generated from the current strong LNG carrier market and early newbuilding deliveries.Additionally, Teekay LNG secured approvals from common unitholders for all proposals presented at its special meeting on December 18, including the proposal to allow Teekay LNG to elect to be treated as a corporation, instead of a partnership, for U.S. federal income tax purposes.As a result, effective January 1, 2019, Teekay LNG will be treated as a corporation for U.S. federal income tax purposes.“We believe that Teekay LNG’s common units represent compelling value and repurchasing them is currently the best investment we can make,” Mark Kremin, President and Chief Executive Officer of Teekay Gas Group Ltd, said.last_img read more

David Silva joins Real Sociedad

August 29, 2020 0 Comments

first_imgFormer Manchester City playmaker David Silva has joined La Liga side Real Sociedad for two seasons.The Spaniard’s 10-year spell at City came to an end after Saturday’s Champions League defeat by Lyon.Signed from Valencia in 2010, the midfielder, 34, made 436 appearances and helped City win 14 trophies.Italian side Lazio were reported to have offered former Spain international Silva a three-year contract. but he joins Real Sociedad on a free transfer.Sociedad finished sixth in La Liga and were in search of a new playmaker after Martin Odegaard returned to Real Madrid following a one-year loan spell.Silva made 309 Premier League appearances, scoring 60 goals and playing an instrumental part in City’s four title wins in 2012, 2014, 2018 and 2019.In domestic cup competitions, he played 57 times and won two FA Cups, five League Cups and three Community Shields.Silva holds the record for the most European appearances for City, having played 70 Champions League matches over the past decade.He was also in the Spain squads that won the 2010 World Cup and the European Championship in 2008 and 2012. Source: BBClast_img read more