GREY:OLEPF - Post by User
Post by
maya123caon Jun 15, 2012 2:29pm
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Post# 20018978
Santa Rosa
Santa Rosa I just had an interesting conversation with an information officer at the BC Securities Commission. He informed me that a company has the discretion whether or not to file a Material Change Report and issue a press release when they dispose of an asset. If is deemed to be a core asset, they must... Since Santa Rosa was not central to the business of the company, simply including it in the financial report was probably all they needed to do. Using that same reasoning, they didn't have to tell us who the "arm's length party" was. However, in view of the recent selling price of $1 million, we are entitled to ask whether management acted in the best interest of the shareholders and got the best possible price. A friend of mine is going to the GM. I'll have him ask Chet who bought Santa Rosa for $5,000. If he won't reveal the information, the information officer told me to put together a file and send it off to them and they will review the matter.