TSXV:CVI.P - Post by User
Comment by
Nofool1on Jan 31, 2013 7:54pm
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Post# 20920989
RE: Nice end of day run
RE: Nice end of day run I did some checking and there may be rules in Canadian law against insiders from voting their shares in a move to take a company private. So that means management made this buy back offer solely as a anti-takeover move (which they can do without a shareholders meeting) therefore don't look for organic growth or news from them anytime soon that would move the SP above $2.45, what would be the point of them making the offer. They are wasting nearly 50 million (35 now and the previous buy back plans to reduce capital amounts on th books, reduce the share float, hopefully increase the SP in future and make the Earning per share look better without actualy increasing production or revenues. What a bunch of clowns all they need to do is get rid of Ed and the SP doubles. It would have been worth 50 million to buy him out.