RE:Yes , its confirmedSchulich’s purchases now have reached a total of 5 million shares in just the last three weeks alone and his ownership in Birchcliff now stands at 15% of the company. In former times, his usual comfort zone in these matters had been in the area of 25%. I think this rush to acquire more shares could portend something bigger.
Things are startin’ to heat up with Birchcliff what with the sale of Charlie Lake and the possible purchase of the Gordondale gas plant that Alta gas disavows is for sale; but methinks the vendor doth protest too much.
Perhaps Schulich doesn’t wish to be caught flat-footed so to speak, particularly so, should some entity decide to take a run at the company and steal it away with some ridiculous lowball offer. So it’s quite conceivable he will continue to boost his purchases to make sure his interests (like ours) will be fully represented at the bargaining table. It would be a travesty if we shareholders ended up doing someone else’s time.
Scoff if you will, but in medieval times prudence dictated that the drawbridge was up at night and the castle doors bolted tight. Come to think of it that works for any age.