Martinrea investor sells 3.05 million shares This may explain it.....still interested to know what the future of MRE holds?
Martinrea investor sells 3.05 million shares
2012-05-25 17:46 ET - News Release
Mr. Nat Rea of Rea Holdings reports
DISPOSITION OF COMMON SHARES OF MARTINREA INTERNATIONAL INC. BY REA HOLDINGS (N.S.) LTD.
On May 24, 2012, and May 25, 2012, Rea Holdings (N.S.) Ltd. disposed of an aggregate of 3,053,700 common shares in the capital of Martinrea International Inc. in the open market at an average price of $8.40 per share.
Rea Holdings is a corporation controlled by Nat Rea. Prior to the sale of the shares, Mr. Rea held, directly and indirectly (including through Rea Holdings), an aggregate of 9,910,009 common shares of the company, representing 11.94 per cent of the company's issued and outstanding common shares. As a result of the sale, Mr. Rea directly and indirectly (including through Rea Holdings) holds 6,856,309 common shares, representing approximately 8.26 per cent of the company's issued and outstanding common shares.
The disposition of the shares by Rea Holdings was effected for personal planning purposes of Mr. Rea. Mr. Rea and entities controlled by Mr. Rea (including Rea Holdings) may, from time to time, acquire additional securities of the company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.