SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report of Foreign Issuer
pursuant to Rule 13-a-16 or 15d-16
of the Securities Exchange
Act of 1934
FOR THE MONTH
OF November 2019
FORM 6-K
COMMISSION FILE NUMBER
1-15150
![LOGO](http://www.sec.gov/Archives/edgar/data/1126874/000127956919002288/enerpluslogo.jpg)
The Dome Tower
Suite
3000, 333 - 7th Avenue S.W.
Calgary, Alberta
Canada T2P 2Z1
(403) 298-2200
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Indicate by check mark if
the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)
Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)
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whether, by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the securities Exchange Act of 1934.
EXHIBIT
INDEX
SIGNATURE
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, thereunto duly authorized.
ENERPLUS CORPORATION
BY: |
/s/ |
David A. McCoy |
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David A. McCoy |
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Vice President, General Counsel & Corporate Secretary |
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DATE: November 8,
2019
Exhibit 99.1
Enerplus Announces Increase to its Existing
Normal Course Issuer Bid
CALGARY, Nov. 8, 2019 /CNW/ - Enerplus
Corporation ("Enerplus" or the "Company") (TSX and NYSE: ERF) announces acceptance by the Toronto Stock Exchange
(the "TSX") of the amendment to its previously announced normal course issuer bid (the "Bid") to
increase the number of common shares it may purchase commencing on November 12, 2019.
The maximum number of shares that may be purchased under
the Bid was increased to 23,818,593 common shares, representing 10% percent of the "public float" (within
the meaning of the rules of the TSX) as of March 19, 2019. The increase will allow for the repurchase
and cancellation by the Company of an additional 7,145,578 common shares until the expiry of the Bid on
March 25, 2020. Under the current Bid, Enerplus repurchased on the open market and cancelled an initial maximum
of 16,673,015 common shares with a weighted average price of $9.64 per share. Pursuant to the Bid, purchases
may be made through the facilities of the TSX, the New York Stock Exchange and/or alternative Canadian trading systems.
Enerplus believes that, from time to time,
the market price of its common shares trade in a price range that does not adequately reflect their underlying value. Accordingly,
Enerplus has concluded that the repurchase of common shares for cancellation may represent an attractive investment that will increase
the proportionate interest in the Company of, and be advantageous to, all of the Company's remaining shareholders.
The Bid will be effected in accordance with
the TSX's normal course issuer bid rules and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, which contain
restrictions on the number of common shares that may be purchased on a single day, subject to certain exceptions for block purchases,
based on the average daily trading volumes of Enerplus' common shares on the applicable exchange. Subject to exceptions for
block purchases, Enerplus will limit daily purchases of common shares on the TSX in connection with the Bid to no more than 25%
(270,933 common shares) of the average daily trading volume of the common shares on the TSX (1,083,735 common shares) during any
trading day. Common shares purchased under the Bid will be cancelled.
Enerplus is authorized to make purchases during
the period of March 26, 2019 to March 25, 2020 or until such earlier time as the Bid is completed or terminated at the option of
Enerplus. Purchases under the Bid will be made through open market purchases at market price, as well as by other means as may
be permitted by applicable securities regulatory authorities, including private agreements. Any purchases made by private agreement
under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market
price as provided in any exemption order.
Enerplus has entered into an
automatic purchase plan prior to commencement of any purchases under the Bid with a broker which will enable
Enerplus to provide standard instructions and purchase common shares on the open market during self-imposed blackout periods. Outside
of these black-out periods, common shares may be purchased in accordance with management's discretion.
Since initiating its share repurchase program
in the third quarter of 2018, the Company has repurchased and cancelled 24,156,485 million shares for total consideration
of $257,803,230 million.
About Enerplus
Enerplus is an independent North American oil
and gas exploration and production company focused on creating long-term value for its shareholders through a disciplined capital
allocation strategy and a commitment to safe, responsible operations.
Forward-Looking Statements
Certain statements and other information
included in this press release constitute "forward-looking information" within the meaning of applicable Canadian
securities legislation or constitute "forward-looking statements" within the meaning of applicable U.S. securities
legislation (collectively, the "forward-looking statements"). All statements in this press release, other
than those relating to historical information or current conditions, are forward-looking statements, including, but not
limited to, Enerplus' intention to commence an amended Bid and the timing, methods and quantity of any purchases
of common shares under the Bid.
These forward-looking statements are subject
to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ
materially from such forward-looking statements. All of the forward-looking statements are qualified by the assumptions that are
stated or inherent in such forward-looking statements, including Enerplus' views with respect to its financial condition
and prospects, the stability of general economic and market conditions, currency exchange rates and interest rates, the availability
of cash for repurchases of common shares under the Bid, the existence of alternative uses for Enerplus' cash resources and
compliance with applicable laws and regulations pertaining to a Bid. Although Enerplus believes that these assumptions
are reasonable, this list is not exhaustive of the factors that may affect any of the forward-looking statements and the reader
should not place an undue reliance on these assumptions and such forward-looking statements.
Events or circumstances that could cause
actual results to differ materially from those in the forward-looking statements, include, but are not limited to: Enerplus' future
capital requirements, general economic, market and business conditions, and other risk factors detailed from time to
time in Enerplus reports filed with the Canadian securities regulators and the Securities and Exchange Commission in
the United States.
Enerplus disclaims any intention or
obligation to update or revise any forward-looking statements in this press release as a result of new information or future
events, except as may be required under applicable U.S. federal securities laws or applicable Canadian securities legislation.
SOURCE Enerplus Corporation
View original content: http://www.newswire.ca/en/releases/archive/November2019/08/c1719.html
%CIK: 0001126874
For further information: please contact Investor Relations
at 1-800-319-6462 or investorrelations@enerplus.com; Ian C. Dundas, President & Chief Executive Officer, Enerplus Corporation
CO: Enerplus Corporation
CNW 06:00e 08-NOV-19
This regulatory filing also includes additional resources:
ex991.pdf
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