Shawcor Lone Stock at a 52-Week High

Shawcor Ltd. (T.SCL) hit a new 52-week high of $8.56 Friday. Shawcor today announced that it has filed a notice of intention with the Toronto Stock Exchange to commence a normal course issuer bid for common shares of the Company, the implementation of which remains subject to TSX approval.

Pursuant to the Bid, Shawcor intends to purchase for cancellation up to 10% of Shawcor’s public float, subject to a maximum of $25 million in aggregate repurchases of Common Shares based on the actual price paid for such repurchased Common Shares pursuant to the Bid