E-L Financial Corp Ltd T.ELF

Today's News

[BB123456]

https://stockhouse.com/news/press-releases/2022/09/22/e-l-financial-corporation-limited-announces-osc-relief-in-substantial-issuer-bid

Seems to imply they are not getting enough shares submitted to meet their goals

[chuck84]

in 2017 algoma central did a SIB at 35% premium to the market and despite that only got a 25% fill. very difficult to imagine full fills but in this market, entirely possible that one of remaining funds capitulates. not a fan of extension as less than full fills would mean tender price of 975 and could redploy capital elsewhere for what little i tendered. leaving it open without takeup just

[chuck84]

the extention was applied for at start of process as standard procedure. what i dislike is that the OSC ruled and announced after most brokerage firms deadlines to submit/modify tender instructions an extension is a free option for the issuer and those who chose not to tender and could now do so if market keeps falling as expense of those who already committed. hypothetically if markets keep

[Jazzcapital]

It would still surprise me that there is 100,000 shares that could tender with the tax implications.  Such a huge tax bill.  But you never know.  I think you're right though with market collapsing maybe forces a few more shares to table that would not normally have rendered.