Peregrine Diamonds Ltd. PGDIF

20% ownership

[mill44]

that's all what I can find anywhere. Crossing that, you have to declare your intentions and any transaction on the open market might be difficult but not impossible. I also saw some mentioning of a 5% threshold in a 12 month period.
I think that Robert is not restricted if he fulfills certain legal obligations.

[mill44]

"Under both the current and new regimes, any purchase in the market that takes a shareholder above 20% ownership of the target company requires the bidder to make a formal take-over bid to all the target’s shareholders on identical terms, subject to two key exceptions to the formal take-over bid rules. The first is the de minimis exemption that permits a shareholder to acquire shares in

[ekim]

That is where the rights offerings have come into play. Robert owning 23% or whatever he owns now.....can legally execute all his rights without triggering any takeover clause or anything like that....if no one else exercises the rights...then his ownership goes up...but that is aside effect..not an intention. That is basically why he is over 20% to begin with. LONG...PGD EKIM

[mill44]

I believe you also have to take in consideration why the rules are put in place. I don't think that anyone can have a problem if the company enters into an agreement with someone as long as it does not lead to squeezing out shareholders. Canada has rules to protect minority shareholders. One way is to make sure that the share price is maximized. It is hard to argue that providing funds for

[mill44]

if anyone knows any reason why the Friedlands would only be able to use rights, please post it, preferably documented. I cannot find anything that would require them to issue more rights. They have to satisfy certain requirements but they would be able to buy even on the open market if they wanted to, AFAIK.

[Kidlapik]

IMO if he wanted to own the company he could have done so at the 0.10 mark by drastically over subscribing so I think this is a moot point.

[mill44]

It is not about owning the company. Check with Ekim about what I said 3 years ago, and that still stands. If the company wants to use his money to move ahead, he will want something in return. The deeper we get into this, the harder it will be to use someone else's money to advance the project. This is why I like the change in plans. Going after more carats from a well known source could put

[mill44]

Honestly, it only matters because in Ekim's view they can only participate if they issue rights. I believe that they would want to keep control of the supply of shares and for that they have to provide the funds or find someone trustworthy to do it. The stock is poised for a nice move. The only way it goes down if rights are coming, so it is important for anyone interested in this to