OTCPK:STZHF - Post by User
Comment by
thetis88on Jan 04, 2022 12:26am
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Post# 34280650
RE:I wonder what they paid for this 40% owenership
RE:I wonder what they paid for this 40% owenershipMarsman1
My guess is they only paid a dollar for this new venture or may have got a bargain and paid just 50 cents. Of course there is probably a lot of debt and trade payables which need paying and in that way Stelco can help the community, and keep this thing afloat. Further, if structured correctly there should be some good tax benefits for Stelco.
You are right, I should have looked at the Board of Directors more closely when I bought my shares and their relationship with Alan. But, his ownership is far less than before and if I am right and he sells 9.9 percent back to the company, I think he would only have a 16 percent interest in Stelco going forward. He still has a lot of skin in the game.
Looking at the Board of Directors I see on the Board two senior retired CA's from National CA firms. To me that is a very good sign, as I too am a retired partner from a national CA firm . lol
Waiting to the end of the month when we see if I am correct on the buy back of 9.9% of the shares
Or wrong again.