RE: RE: RE: RE: Blair selling No
Blair had 4,272,463 shares of which 4,052,463 are held directly by Renegade Capital Corp with the balance being in his RRSP.
He now has 4,000,000 shares
Scotia Merchant is completely independant of Renegade
A few weeks ago I wrote this about Scotia's selling:
" Scotia Merchant Capital (100% owned by Bank of Nova Scotia) has a long history of selling its holding of AM shares.
5 years ago they had about 9 millions shrs (40% of the company).
In november 2007 they did a secondary offering of 3 millions of their holding.
In july 2010, they sold 1.5 million shrs pursuant to the 'substantial issuer bid' under which AM offered to repurchase up to $5 million in value of its outstanding common shares.
At the beginning of 2012, they had almost 4,000,000 shares
They now have 3,408,000 shares.
As long as this large block is hanging out, I doubt AM will reach $5.00 this year as some posters are dreaming of.
The best would be for Scotia to do a secondary offering as they did in 2007 or to enter into a private agreement with another institution.
The fact that they have not done it might indicate they don't intend to sell their block in its entirety. "
Update; Scotia has now 2,574,062 shares.