GREY:IPHAF - Post by User
Comment by
macbethorfauston Sep 30, 2010 12:59pm
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Post# 17512642
RE: guys, check Seda
RE: guys, check SedaNo, its 32 million in total, including the recent partial conversion.
This report isn't saying that there is a take over in the works. It is just a formality, they have to file notice of an issuer bid (which this was) when the acquirier is acquiring more than x%.
It is only tellng us what we already know, namely that when they did a partial redemption they brought themselves up to just under 10%. When they convert the balance they will be holding as much as 26% of the company (more if the US dollar rises against the Canadian before they do so).