GREY:CXEYF - Post by User
Comment by
invest_1on Jan 12, 2011 11:22am
230 Views
Post# 17959602
RE: Debt for equity..
RE: Debt for equity..Thanks for pointing that out -- I didn't realize there was a distinction. Learned something today, thanks.
https://www.tmx.com/en/pdf/TSXandTSXVenture_IndustrialRequirements.pdf
1,000,000 free trading public shares
$4,000,000 held by public shareholders
300 public shareholders each holding a board lot
The$4m criteria is interesting -- that implies that the market cap must beremain above $20m given that Geofinance will have ~80%.
Justthinking if that might explain why Actis's director had to resign - ifthey were considered an insider, then the free float would havebeen roughly 10% (20% - (15% actis stake * ~66% dilution))..
Ithink a placement would be a good thing, otherwise impossible forinstitutions to get involved. If they did a placement to strategicinvestors, if would be a major positive, and they would surely do it at apremium to their average entry cost. I still think they will do aplacement, but let's see. In the meantime, good to know there is a floorunder the price due to the $4m free float requirement.
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Umm, you must be rather new to Candax, let me try something.
The$4m criteria is interesting -- that implies that the market cap must beremain above $20m given that Geofinance will have ~80%.
We and the TSX do not care if Geo have 80% or 90% or 60% get it ? Minimum of 1 Million shares trading as free float with a minimum value of $4 Million.....given that when all is said and done the Float will be roughly 965 Millions shares with Geo owning ~795 Million - Retail will carry 170 Million shares. Share price could drop to 0.025¢ and we would still be TSX compliant.
Get it ? Nothing to do with the percentages!
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Justthinking if that might explain why Actis's director had to resign - ifthey were considered an insider, then the free float would havebeen roughly 10% (20% - (15% actis stake * ~66% dilution))..
NO!
Actis has elected to leave the seat to a player from Geo Finance, search this forum and look for a topic generated by badactor - discussed at length. Badactor has been in contact with Actis.
Again and understand , percentage that they own is irrelevant for compliance purposes! And as an FYI, an Insider does not need to have a seat on the Board of Director to be consider an Insider. To this effect anyone holding 10% + shares of the Corporation is considered an Insider by the TSX and reported as such by their Insider Trading reports. In other words, Actis was and still IS AN INSIDER, irrelevant if they were/are or no longer are sitting on the Board of Director.
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Ithink a placement would be a good thing, otherwise impossible forinstitutions to get involved. If they did a placement to strategicinvestors, if would be a major positive, and they would surely do it at apremium to their average entry cost. I still think they will do aplacement, but let's see. In the meantime, good to know there is a floorunder the price due to the $4m free float requirement.
LOL!
Funny guy, do you know many Institutions that would invest on a TSX listed corporation trading pennies, with a history of 5 consecutive years of failure, and now carry more debt and shares then the Asset value?
Why don't you try to redact a Prospectus to try to promote the Private Placement that for some reason you so adamantly believe will do miracle for us - let alone why the heck not; push us pass the 1 Billion Mark in terms of Outstanding share count....
Looking forward to reading that one!