Information Circular for Dummies - 1I always love going through these Information Circulars whenever there is a proposed management lead penny stock re-organization or low ball take-over.
There is always lots of juicy details buried away in all the hundreds of pages of legal mumbo jumbo__and this ABM one is no exception!
The first interesting tidbit is the revelation that the 3 ABM/AMI insiders initiated this NON-ARMS LENGHT DEAL way back almost a year ago__at the November 18, 2007 board meeting to be specific.
So is it simply a co-incidence that it was right around then that CINDYLOU and all his other User IDs really started pumping the tar out of ABM?
Or was your friendly pumper CINDYLOU priviledged to a wee bit of insider whispers?
The other interesting revelation was that even though the proposed ABM/AMI deal was first publically announced on May 1, 2008, it has taken ABM insiders this long__just a few weeks before the November 20th special shareholders meeting__to actually try to seal the deal.
And in that time of spinning their wheels the Tar Sands development activity has come to a very sudden halt with numerous projects being put on hold or cancelled.
Turns out that the main reason for this VERY long delay was that the TSX Venture Exchange had required that the ABM insiders do a better independent valuation than what was first presented in the January 31. 2008 version. The updated valuation was not finished until the very end of this August__around the time that ABM announced that they had secured the necessary 9 million Demand Note from the Bank of Montreal.
More juice to come!