Stuart Olson Inc CUUHF

Industrials

"Stuart Olson Inc is a Canada-based company. It operates in business segments that are Industrial Group, which offers services to clients in a wide range of industrial sectors including oil and gas, petrochemical, refining, water and waste water, mining, pulp and paper and power generation; Buildings Group, which includes construction, expansion and renovation of buildings for private and public sector clients in the commercial, light industrial and institutional sectors; Commercial System Group

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Stuart Olson Inc > Naked Shorting

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Comment by PeterM1on Nov 24, 2018 11:16am

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Post# 29017322

RE:Naked Shorting

According to SOX latest quarterly report:

The $80.5 million of 6.0% convertible debentures issued in September 2014 are convertible into 5,689,046 common shares, based on a conversion price of $14.15 per share.

If the debentures are convertible at a fixed price, what benefit could a debenture holder gain from shorting Sox stock ? It would seem that would be only hurting their own situation. Or am I missing something here.

The short position has now by the way increased to a million shares or 22 % or total value - but that is down from 34% in August

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