RE: RE: RE: RE: 2010 Excerpt from their MD&A below. Because they ceased to become insiders as of March 31, any sells they did after that did not have to be reported as insider transactions. I suspect some of the heavy sell volume in April was theirs as well. I also added in the part where Hunter Hall owns about 40% of the company just for interest sake.
During the first quarter of 2012, the Rogers and their daughter disposed of 23,760,421 common shares directly or indirectly owned or controlled by them. Therefore, to the best knowledge of the Company, the Rogers directly or indirectly owned or controlled 2,964,588 common shares, or 2.42%, of CWL as of March 31, 2012. As a result, as of March 31, 2012, the Rogers are no longer considered to have significant influence over CWL and are no longer considered a related party for purposes of accounting under IAS 24. As of March 31, 2011, the Rogers directly or indirectly owned or controlled 26,470,588 common shares, or approximately 33% of Catch the Wind Ltd. Therefore the Rogers were considered to have significant influence over CWL at that time and were considered a related party for purposes of accounting under IAS 24. Optical Air Data Systems LLC (“OADS”), TriStar Aviation LLC and Falcon Fifty LLC, which to the Company’s knowledge as of March 31, 2011 were directly or indirectly controlled by the Rogers, were also considered related parties for purposes of accounting under IAS 24 as of March 31, 2011.
To the knowledge of the company, various entities of Hunter Hall Investment Management Ltd. (“Hunter Hall”) directly or indirectly own or control 48,457,944 common shares, or approximately 39.6% of Catch the Wind Ltd. Therefore, Hunter Hall is considered to have significant influence over CWL and l is considered a related party for purposes of accounting under International Accounting Standard (“IAS”) 24, Related Party Disclosures.