OTCPK:NNVUF - Post by User
Post by
lawdude11on May 27, 2020 12:03pm
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Post# 31078313
Insider purchases
Insider purchasesMy broker's most recent email on insider transactions stated that on May 15 insiders purchased 6.9 million units of Northview. The purchase of units by insiders would tend to prop up the unit price but it has not had that effect.
Also in March it was announced that Starlight could buy units representing 19.9% of the outstanding units on the open market. They already owned 13.3% of the units so they could buy another 6.5%.
the May 25th news release said that 38 million shares units were voted representing 55.75% of total issued/oustanding units. that means that total units are just under 70m. We also know from the press release that 9 million units were Starlight owned units (38m units voted of which 29.98m were non Starlight units). So Starlight's stake represents less than 13% of the issued and outstanding shares.
This raises an interesting question: Why isnt' Starlight buying units to take their stake up to 19.9% when they can do so at a discount of now 9% to the takeover price?