Westaim Corp V.WED

Alternate Symbol(s): WEDXF

Financial Services Asset Management

The Westaim Corporation is a Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Its strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Its investments include significant interests in Arena and the Arena FINCOs. The Arena FINCOs are private companies which include specialty finance companies that primarily purchase fundamental-based, asset-oriented credit and other investments for their own account. Arena consists of two main business lines: Arena Investors and Arena Institutional Services (AIS). Arena Investors operates as an investment manager.

TSXV:WED - Post by User

Westaim Corp

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Post by ChiChi3on Dec 19, 2008 12:43pm

688 Views

Post# 15657378

Gov of Canada to back ABCP

It looks like the $5.1 million in ABCP that Westaim holds is now pretty secure. Any investors that were afraid of a further write-down or down-right collapse in the value should have their concerns put at ease. Note that the $5.1 million has already conservatively been written down by over 30% from its book value.

I'm surprised the stock price hasn't popped on this news, let alone the news of the new Goodwood board members.

Chi.

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