RE: RE: sheldon is showing up Sheldon Inwentash is the Chairman and CEO of Pinetree Capital. He owns shares personally in Opel Technologies and his fund Pinetree Capital owns shares. In combination his ownership plus Pinetree ownership is greater than 10% making him a significant shareholder. As a significant shareholder he has to file insider trading reports.
On Sept 28 Pinetree participated in the last private placement offering for 1 million shares including 1 million warrants.
Immediately following the acquisition noted in item 2 above, the Offeror, together with its joint actors, owns an aggregate of 7,138,000 common shares of Opel and rights to acquire an additional 6,696,000 common shares upon exercise of certain convertible securities (the “Convertible Securities”), including the Warrants. Of these totals, the Offeror owns 3,803,500 common shares, including the Common Shares, and 3,500,000 of the Convertible Securities, including the Warrants, (the “Offeror Convertible Securities”) directly. In the event that the Convertible Securities are fully exercised, the holdings of the Offeror and joint actors represents a total of 13,834,000 common shares of Opel, or approximately 11.2% of all issued and outstanding common shares as at September 28, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Offeror Convertible Securities are fully exercised, the direct holdings of the Offeror represents a total of 7,303,500 common shares of Opel, or approximately 6.1% of all issued and outstanding common shares as at September 28, 2012, calculated on a partially diluted basis assuming the exercise of the Offeror Convertible Securities only.
Since that time Sheldon has increased his personal holdings very significantly with buying in the open market. He has added 111.5k to his RRSP holdings which now stands at just over 3.3 million shares. He has purchased an addition 479k Including the 200k he reported this past week which he bought at an average price of .68. Note that Friday 175k of insider buying was also recorded but not filed as yet.
Sheldon also holds 3,196,000 warrants inside his RRSP which h when exercised gives him 6.5 million tax sheltered shares
Total holding now under control of Sheldon Inwentash (with all warrants exercised) is approaching 15 million shares.
I believe he fully anticipates a successful outcome of POET development otherwise this stock would never have the liquidity necessary for him to see a return on his investments.