Penbar Capital Ltd V.PEM

Primary Symbol: V.PEM.P

Industrials Conglomerates

Penbar Capital Ltd. is a Canada-based capital pool company. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation by completing a qualifying transaction. The activities of the Company are initially limited to the efforts to identify and evaluate the acquisition of assets and business, which would represent a qualifying transaction for regulatory purposes. The Company has not commenced commercial operations and has no significant assets.

TSXV:PEM.P - Post by User

Penbar Capital Ltd

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Post by whinnyon Jun 19, 2010 7:16am

306 Views

Post# 17204177

Tax Maneuver

I believe this is simply a way for the insiders to protect themselves because of the stupid US tax laws. They are protecting their wealth which is what I would do if I were in their place. Remember this part of the release:

This transaction is intended to qualify as

a tax-free reorganization pursuant to the United States Internal Revenue Code.

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