RE: Warrants expiry and PP shares free trading- BM On Bullmarketrun there were arguments regarding the warrants expiry and PP free trading shares, that most of them were bought by insiders, who are not willing to sell shares in the short run.
When you check the SEDI insider filings, you´ll find that this is NOT the case !
the main insiders and their recent PP buy-ins / warrant holdings are as follows:
1. Alexander Falconer: bought 84,000 shares / 42,000 warrants in January PP / 242,000 warrants total
2. Robert Michael Libin: bought 166,000 shares / 83,000 warrants in February PP / 83,000 warrants total
3. Robert Brian Murray: had 225,000 warrants by end of Dec. 2011 , NO participation in 2012 PP
So, we are talking about 250,000 shares being bought by insiders in the 2012 PP´s out of 6,612,001 PP shares being issued !
That´s a tiny amount of just under 4% of the PP !
All 6 registered insiders hold a total of:
- 3,131,000 shares
- 1,250,000 options
- 650,000 warrants
Total: 5,031,000 = 10% of the fully diluted share count (50,359,138)
Conclusion: I would still expect some selling over the next 5 weeks, because insider participation in the 2012 PP´s seems not very high !
Maybe the BMR people have different information compared to the official SEDI reports. If that´s the case, I would appreciate full disclosure. Otherwise I go with the officially available infos which tell me that there might be selling pressure coming our way over the next 5 weeks.
FANTOMAS