RE:RE:133k share block crossed, likely cancellednukester wrote: Nice volume !
Maybe Kasking sold off his Gamehost trading shares today and rolled them into Peyto :-)
Per SEDI, looks like Acumen mopped up 22,100 for Gamehost in September 2021.
I think the last NCIB limited daily activity to approx 2000 shares / day.
The current NCIB is even smaller, approx 1000 shares / day. (Fading memory on this)
I too am curious to see the October shares cancelled in SEDI, they usually post transactions first few days of the next month.
On the bright side... looks like Alberta Covid stats are starting to roll over as well. (Fingers crossed) Wish somebody could do a parking lot check at the Gamehost properties for us.
Your numbers are right, Wild Bill Peyto.
However, there are some flexibilities with NCIBs on the TSX.
https://www.tsx.com/resource/en/447 NCIB allows co to either:
-purchase 5% of total shares over 12mo period
-purchase 10% of public float over 12mo period
(whichever is greater of the two!)
GH shares are about 23mm.
Public float is around 9mm.
5% of 23mm is 1,150k
10% of 9mm is 900k
These guys can purchase a maximum of 1,150k shares for 2021-2022 period.
You are right about daily limits around 1,100. However, let's say they buy 1,100/day each week for 52 weeks per year. That restriction would lead to max annual NCIB volume of 1,100 x 5 x 52 = 286,000.
Considering they are permitted to buy 1,150k shares max per day, then there could be purchases outside of daily open-maket activity.
In this case, cross-trades. There will be institutional holders or large retail holders of the the stock who may wish to exit holdings for different reasons. They can pre-arrange a trade should the company have the desire and capital to purchase the block of shares being made available.
I think the 133k last week was an example of this type of transaction. So have a peek at the 133k in the upcoming disclosures. If those shares don't show up, then it could have been an institution selling to an institution. Or possibly it was the Kasking raising a little cash for the cattle auctions!! He's going to corner the regional market as everyone else is forced to sell their herd as feed costs climb. That's my bet.