On Monday, Shares of Endeavour Silver Corp. (NYSE:EXK), surged 6.84% to $2.03.
Endeavour Silver, declared it has made minor amendments to the stock option plan as a result of comments received from independent proxy advisory agencies in order to continue to align it with leading governance practices. The amendments will be made from the floor of the shareholder meeting planned for May 6, 2015.
Endeavour Silver Corp., a Canadian mineral company, engages in the evaluation, acquisition, exploration, development, and exploitation of precious metal properties in Mexico and Chile. It produces silver-gold from its underground mines.
At the end of Monday’s trade, Shares of Tesla Motors, Inc. (NASDAQ:TSLA), jumped 6.01% to $231.55.
Tesla Motors, declared recently that the Toronto Stock Exchange has accepted Tesla’s notice of intention to commence a normal course issuer bid.
As at April 17, 2015 , there are 22,207,422 common shares of Tesla outstanding. Under the terms of the NCIB, Tesla may purchase, from time to time, as Tesla considers advisable, up to a maximum of 1,110,371 Common Shares, being 5% of the presently issued and outstanding Common Shares, during the course of the NCIB. Tesla’s average daily trading volume for the period of October 1, 2014 to March 31, 2015 (inclusive) was 2,387 Common Shares. In accordance with TSX rules, a maximum daily repurchase of 1,000 Common Shares may be made. During the past 12 months, 525,000 Common Shares were repurchased by Tesla at a weighted average price of $2.6405 per Common Share.
Tesla is making the NCIB because it believes that the market price of its Common Shares does not reflect their underlying value and that the NCIB may provide value by reducing the number of Common Shares outstanding at attractive prices.
Purchases of Common Shares will be made on the open market through the facilities of the TSX, alternative trading systems or such other exchanges or marketplaces through which the Common Shares may trade from time to time. The price which Tesla will pay for any Common Shares purchased by it will be the prevailing market price of the Common Shares at the time of such purchase. All Common Shares purchased under the NCIB will be cancelled.
The NCIB will commence on April 28, 2015 and will terminate on April 27, 2016 or such earlier date on which Tesla completes its purchases of Common Shares under the NCIB or terminates the NCIB at its option.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
Finally, Oclaro, Inc. (NASDAQ:OCLR), closed at $1.98, with 5.88% gain.
Oclaro, declared that on May 5, 2015, at 5:00 p.m. Eastern Time, the Company will host a conference call to talk about its financial results for the third quarter of fiscal year 2015, which ended March 28, 2015.
Oclaro, Inc. designs, manufactures, and markets lasers and optical components, modules, and subsystems for the optical communications, industrial, and consumer laser markets worldwide. The company’s products generate, detect, combine, and separate light signals in telecom networks.
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