Rifco Inc. issued 6,953 common shares to its employees on Tuesday, July 2, 2013, according to a company press release that was issued pursuant to TSX Venture Exchange's policies. The issuance was under the company's Employee Share Ownership Plan (ESOP).
The issuance included 4,425 common shares issued to Rifco's officers. The common shares were issued at $4.61, the sale price being the weighted average trading price five days prior to the issuance.
Rifco common shares, under the symbol "RFC", are traded on TSX Venture Exchange. Rifco has more than 20 million outstanding shares and about 22 million fully diluted shares.
Rifco Inc. operated through Rifco National Auto Finance, a wholly owned subsidiary that provides automobile loans to Canadians, specifically in British Columbia, Manitoba, Alberta, Ontario, Saskatchewan, and the Atlantic provinces. Rifco National Auto Finance offered financing options for new and used vehicles, specializing in building long-term dealer partnerships through personalized services.
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