GREY:PTQMF - Post by User
Comment by
ajootianon Jun 29, 2011 7:13pm
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Post# 18782059
RE: Thank you for your shares
RE: Thank you for your sharescrdy, could you shed some light on the odd timing of getting this NCIB filed. I understand that the company can't buy any shares under the NCIB as long as it has material undisclosed info about the company. That would seem to apply to the present at least until the Iberian 43-101 gets filed. And then we have the shareholders' meeting for the acquisition. It would seem imprudent for PTQ to buy any shares via the NCIB prior to that meeting since there is no guarantee that the PTQ shareholders will approve the transaction (or if PTQ is certain that the transaction will get approved, that fact alone would seem to constitute material undisclosed info).
If PTQ had waited until the day after the Iberian transaction closed to announce the NCIB, I believe they could have counted the newly issued shares in the base for calculating the max shares that could be bought on thru the NCIB.
So given the above, why did they rush this NCIB through now?