RE:InsidersLostchannel wrote: It is very confusing as to the inside action. The totals dont add up - I think this is mostly technical and in the end i am most interested whether this group has an above average inside ownership or not. I cant tell with the INK screen. Can anyone give a high level answer. Are insiders adding, reducing or some other exchanging which keeps them about the same.
On Feb. 23, Mar. 1 and Mar. 3rd current insiders privately acquired common shares: Legault: (80,638 + 20,461 + 86,576 + 21,968 + 29,742 + 7,546) = 246,931 Wallace: (29,737 + 134,830 + 31,927 + 144,759 + 10,967 + 49,729) = 401,949 Wilson: (3,721 + 3,994 + 1,372) = 9,087 Vaughan: (1,581 + 1,697 + 583) = 3,861 In preparation for amalgamation between Holdings and Antibe, Holdings is winding down its assets that won't be a part of the amalgamated company, namely 1.24 million shares of ATE). Holdings is transferring those shares of ATE to shareholders of Holdings (some Antibe insiders also own shares in Holdings). The original June 2013 long form prospectus had ownership of Holdings as: Wallace owning 16.6% (could increase to 32.0% through performance milestones and options) and Legault acquiring 23.0% if all performance milestones and options vest. If Holdings has now fully divested its 1.24 million ATE shares, it would imply Wallace owns (0.402/1.24 = 32.4%) and Legault owns (0.247/1.24 = 19.9%). Those numbers are sort of close enough that I suspect that Holdings has now transferred over the 1.24 million shares of ATE it owns to Holdings' shareholders. For capital gains and tax purposes Holdings divested ATE shares to its shareholders over 3 different days and probably used some sort of volume weighted average price (why the price on Feb. 23 was outside the trading range). TLDR: insiders aren't really buying or selling shares in ATE, they're sort of transferring shares from one form of ownership to another (with potential capital gains and tax consequences). Sort of like if you transferred shares from a non-registered account to a TFSA.