Re: 20% ownershipMakes you wonder when Blackberry stated they were dissappointed that Watsa couldn't
exceed 20% of the shares outstanding in the revised debenture news reslease. Exactly
what Gardner was trying to mention to shareholders and the TSX regulators.Dorsey said
something smells, when management trys to pull a fast one. Chen should know better...
What Happens if I Become a 20% or Greater Shareholder?
Do not become a 20% or greater shareholder without first speaking with Canadian legal counsel. Canadian securities laws prohibit acquisitions of outstanding securities of an issuer that result in an investor holding 20% or more of a class of voting or equity securities of a Canadian public company without making a formal takeover bid (that is, a public tender offer). There are a few exceptions to this requirement, including purchases through private agreements and limited public market purchases, but it is important to get specific legal advice about them before increasing your ownership level to 20% or more.