Post by
rgonlyfactspls on Oct 13, 2016 10:35pm
Michael, Michael, Michael... all in with 310,602 shares*...
....And, that is after the US$28.6 million private placement of August 19, 2015 in which I quote from related press release...."In addition, certain members of the senior management team and board of directors of Telesta participated in this transaction". Recall 109 million shares were issued under the terms of this financing at a subscription price of approx 34 cents/share CAD or 26 cents/share USD. The word "participating" now appears extremely "misleading". *Michael Berendt's "total" share figure of 310,602 is sourced from pg 27 of "Notice of Special Meeting of Shareholders (Oct 25,2016)". Note: Total Snr mgm't and BOD hold a total 2.7 million shares out of the 303.5 million issued and outstanding common shares as at Sept. 16, 2016 (source AIF 2016). Dedicated?...to do this deal and book a long cruise trip. Shameful. rg