JITE TECHNOLOGIES INC V.JTI

Halted at the request of the company

[hawkowl1]

Jite Technologies Inc. has been halted at 12:04 p.m. PT on Jan. 30, 2012, at the request of the company, pending news.

 

Hmmmm....I dont have a big position but hoping this news is good.

MCV owns 60% of this and they are not halted so its not a take over.

Trades by appointment only so no recent indication anybody was bailing .

Previous volumes were generated between November December and all selling was Desjardins.

[hawkowl1]

McVicar to acquire Jite shares for 100% ownership! 115% premium.!   Sucks to be you Desjardins for dumping down to .24 cents!   MCVICAR INDUSTRIES INC. AND JITE TECHNOLOGIES INC. ENTER AGREEMENT TO ACQUIRE JITE TECHNOLOGIES INC. McVicar Industries Inc. has entered into a support agreement with its 56.2-per-cent-owned subsidiary, Jite Technologies Inc., pursuant to which McVicar has

[Baysarj]

This was honestly the only catalyst i saw left for this company after the string of bad news surrounding chinese tsx listed companies. I even asked the CFO if there was any interest at all in a take over by McVicar.  Obviously he didn't disclose much, but this is good.  Ill take the 100% premium, and 80% gain on my investment.  

[hawkowl1]

Well it is a great deal for MCV .This assimilation of JTI adds value. Cost of a listing dissapears and administration reduced. Mr.. May add to my MCV position. Oh actually I should thank Desjardins for dumping. Added 57,500 shares in my trading account at .26 cents average price when it dropped late November. My 256,500 shares in Locked in Account have a book value of .54 cents so I

[Baysarj]

My ACB is much lower, but so is my share count!  Nonetheless, it's a nice kick start to the portfolio for 2012.  It's too bad we never got to see fair value for this company, as the current share price basically represents only the cash on it's books.  I contacted Mr. Ding about all the Desjardins action, he had no clue who it was. Now, what to do with the cash......

[hawkowl1]

What to do with the cash ..well if your comfortable with investing in junior oil and gas I would go with light oil focussed companies . TOL stands out at the moment with an outstanding update today. SCS has significant light oil opportunities and rumoured to being eyed by Crescent Point. MEL is also involved with CPG MQL growing with a great management team. In the oil service sector I have BRY-TO