Q1 Financial Report - 2011
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Ag Growth International Inc.<br />
NOTES TO UNAUDITED INTERIM CONSOLIDATED<br />
FINANCIAL STATEMENTS<br />
[in thousands of Canadian dollars, except where otherwise noted and per share data]<br />
March 31, <strong>2011</strong><br />
20. EQUITY<br />
[a] Common shares<br />
Authorized<br />
Unlimited number of voting common shares without par value<br />
Issued<br />
12,394,621 common shares<br />
Number Amount<br />
# $<br />
Balance, January 1, 2010 13,020,099 157,279<br />
Purchase of common shares under LTIP (167,900) (6,032)<br />
Purchase of common shares under normal course<br />
issuer bid (674,600) (8,057)<br />
Settlement of LTIP obligation - vested shares 81,951 2,737<br />
Settlement of SAIP obligation - vested shares 140,000 5,449<br />
Balance, December 31, 2010 12,399,550 151,376<br />
Purchase of common shares under LTIP [note 21[a]] (67,996) (3,346)<br />
Conversion of subordinated debentures 2,556 115<br />
Settlement of LTIP obligation - vested shares [note 21[e]] 60,511 2,057<br />
Balance, March 31, <strong>2011</strong> 12,394,621 150,202<br />
The 12,394,621 common shares at March 31, <strong>2011</strong> are net of 151,375 common shares with a<br />
stated value of $6,264 that are being held by the Company under the terms of the LTIP until<br />
vesting conditions are met.<br />
The 12,399,550 common shares at December 31, 2010 are net of 143,890 common shares<br />
with a stated value of $5,027 that are being held by the Company under the terms of the LTIP<br />
until vesting conditions are met.<br />
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