YF Limited (“YF”) announced today that, on December 29, 2017, it acquired 293,500 common shares of TAG Oil Ltd. (“TAG”) (TSX: TAO) through the facilities of the Toronto Stock Exchange at a price of C$0.4096 per share, for total consideration of C$120,222.60.
The purchased shares, together with the 8,408,000 common shares of TAG previously held by YF, resulted in YF having beneficial ownership of approximately 10.2% of TAG’s outstanding common shares. As the result of multiple purchases of TAG common shares through the facilities of the Toronto Stock Exchange between June 6, 2018 and June 18, 2018, YF acquired a further 1,422,500 TAG common shares representing, in the aggregate, an additional 1.67% of TAG’s outstanding common shares.
These additional common shares were acquired for aggregate consideration of C$554,111.49, being an average price of C$0.3895 per common share. As a result of YF’s acquisition of the additional 1,422,500 common shares, its ownership interest increased to represent approximately 11.87% of TAG’s outstanding common shares. On June 19, 2018, YF acquired 110,500 TAG common shares through the facilities of the Toronto Stock Exchange at a price of C$0.38 per share, for total consideration of C$41,990.00. The purchased shares, together with the 10,124,000 common shares of TAG previously held by YF, resulted in YF having beneficial ownership of approximately 12.0% of TAG’s outstanding common shares. As the result of multiple further purchases of TAG common shares through the facilities of the Toronto Stock Exchange between June 20, 2018 and June 26, 2018, YF acquired a further 42,000 TAG common shares representing, in the aggregate, an additional 0.05% of TAG’s outstanding common shares. These additional common shares were acquired for aggregate consideration of C$15,915.00, being an average price of C$0.3789 per common share. As a result of YF’s acquisition of the additional 42,000 common shares, its ownership interest increased to represent approximately 12.05% of TAG’s outstanding common shares.
Prior to the December 29, 2017 transaction, YF owned 8,408,000 common shares, representing approximately 9.86% of TAG’s outstanding common shares. As a result of the December 29, 2017 transaction, YF beneficially owned 8,701,500 common shares, representing approximately 10.2% of TAG’s outstanding common shares. Following YF’s acquisition of a further 1,422,500 common shares between June 6, 2018 and June 18, 2018, YF beneficially owned 10,124,000 common shares, representing approximately 11.87% of TAG’s outstanding common shares. As a result of the June 19, 2018 transaction, YF beneficially owned 10,234,500 common shares, representing approximately 12.0% of TAG’s outstanding common shares. Following YF’s acquisition of a further 42,000 common shares between June 20, 2018 and June 26, 2018, YF beneficially owned 10,276,500 common shares, representing approximately 12.05% of TAG’s outstanding common shares.
The common shares of TAG were acquired by YF for investment purposes. YF will continue to review the performance of and prospects for this investment and investment alternatives. YF may take actions in the future in respect of its security holdings in TAG based on the then existing facts and circumstances, which actions could include, without limitation, acquisitions or dispositions of TAG common shares, whether in the open market, by privately negotiated agreement or otherwise.
YF’s head office is located at Market Square, 3rd Floor, Yamraj Building, P.O. Box 3175, Road Town, Tortola, British Virgin Islands. TAG’s head office is located at 2040-885 West Georgia Street, Vancouver, British ColumbiaV6C 3E8.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under TAG’s profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters.
Pandemic ‘shecession’ reverses women’s workplace gains
By Anuradha Nagaraj
(Thomson Reuters Foundation) – The coronavirus pandemic reversed women’s workplace gains in many of the world’s wealthiest countries as the burden of childcare rose and female-dominated sectors shed jobs, according to research released on Tuesday.
Women were more likely than men to lose their jobs in 17 of the 24 rich countries where unemployment rose last year, according to the latest annual PricewaterhouseCoopers (PwC) Women in Work Index.
Jobs in female-dominated sectors like marketing and communications were more likely to be lost than roles in finance, which are more likely to be held by men, said the report, calling the slowdown a “shecession”.
Meanwhile, women were spending on average 7.7 more hours a week than men on unpaid childcare, a “second shift” that is nearly the equivalent of a full-time job and risks forcing some out of paid work altogether, it found.
“Although jobs will return when economies bounce back, they will not necessarily be the same jobs,” said Larice Stielow, senior economist at PwC.
“If we don’t have policies in place to directly address the unequal burden of care, and to enable more women to enter jobs in growing sectors of the economy, women will return to fewer hours, lower-skilled, and lower paid jobs.”
The report, which looked at 33 countries in the Organisation for Economic Co-operation and Development (OECD) club of rich nations, said progress towards gender equality at work would not begin to recover until 2022.
Even then, the pace of progress would need to double if rich countries were to make up the losses by 2030, it said, calling on governments and businesses to improve access to growth sectors such as artificial intelligence and renewable energy.
Laura Hinton, chief people officer at PwC, said it was “paramount that gender pay gap reporting is prioritised, with targeted action plans put in place as businesses focus on building back better and fairer”.
Britain has required employers with more than 250 staff to submit gender pay gap figures every year since 2017 in a bid to reduce pay disparities, but last year it suspended the requirement due to the coronavirus pandemic.
(Reporting by Anuradha Nagaraj @AnuraNagaraj; Editing by Claire Cozens. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)
German January exports to UK fell 30% year-on-year as Brexit hit – Stats Office
BERLIN (Reuters) – German exports to the United Kingdom fell by 30% year-on-year in January “due to Brexit effects”, preliminary trade figures released by the Federal Statistics Office on Tuesday showed.
In 2020, German exports to the UK fell by 15.5% compared to 2019, recording the biggest year-on-year decline since the financial and economic crisis in 2009, when they fell by 17.0%, the Office said.
“Since 2016 – the year of the Brexit referendum – German exports to the UK have steadily declined,” the Office said in a statement.
In 2015 German exports to the UK amounted to 89.0 billion euros. In 2020, German they totalled 66.9 billion euros.
Imports to Germany from the UK totalled 34.7 billion euros in 2020, down 9.6 % compared to 2019.
(Reporting by Paul Carrel; Editing by Madeline Chambers)
German unemployment unexpectedly rises in February
BERLIN (Reuters) – German unemployment rose in February for the first time since last June, data showed on Tuesday, dashing expectations for a fall as lockdown measures to suppress the coronavirus case load held back Europe’s largest economy.
The Labour Office said the number of people out of work rose by 9,000 in seasonally adjusted terms to 2.752 million. A Reuters poll had forecast a fall of 13,000.
“Kurzarbeit (shortened working hours) continues to secure employment on a large scale and prevent unemployment,” Labour Office chief Detlef Scheele said in a statement, adding: “Individual sectors are feeling the effects of the lockdown.”
Germany has been in lockdown since November, and measures were tightened in mid-December, as it battles a second wave of the virus. Chancellor Angela Merkel has said new variants of COVID-19 risk a third wave of infections.
The unemployment rate remained unchanged compared with the previous month at 6.0%.
The labour agency said some 2.39 million employees were on shortened working hours in December under the government’s Kurzarbeit scheme designed to avoid mass layoffs during downturns by offering companies subsidies to keep workers on the payroll.
After peaking at some 6 million last April, the number of people on Kurzarbeit fell before rising again in November as lockdown measures kicked in, the Office said.
(Writing by Paul Carrel; Editing by Madeline Chambers)
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