RE:SEDAR Early Warning?go.faster@ymail.com wrote: Can someone advise what this is all about?
It's because with all the shares the Al-Wazzan has purchased plus if he exercises all options and the debenture, he has crossed the 20% ownership threshhold. An early warning report must be filed.
Early warning requirements
In replacement for Hamad M. Al-Wazzan's convertible debenture, which matured on Jan. 14, 2016, Mr. Al-Wazzan acquired a March 1, 2016, debenture in the principal amount of $5,437,808.22, which is convertible into 54,328,082 common shares, which would represent 12.8 per cent of the issued and outstanding common shares of Encanto on a partially diluted basis. Mr. Al-Wazzan now beneficially owns and controls 31,574,509 common shares of Encanto, representing 8.5 per cent of the issued and outstanding common shares of Encanto. Mr. Al-Wazzan also beneficially owns and controls options to purchase 1,575,000 common shares of Encanto and the debenture convertible into 54,328,082 common shares of Encanto. Assuming full exercise of the options and conversion of the debenture in full, Mr. Al-Wazzan would beneficially own and control 87,477,591 common shares of Encanto, representing 20.6 per cent of the issued and outstanding common shares of Encanto on a partially diluted basis. Mr. Al-Wazzan acquired the securities for investment purposes and may acquire further securities of Encanto in the future.