RE:RE:RE:RE:RE:I still believe..
SlyFox1 wrote: Ark i read it as MENAco is comprised of multiple shareholders. Each of these shareholders will in turn be granted ownership in SNV that comprises 15.2% interest. Individual, each owner would not exceed ownership requirments to be deemed an insider per Venture requirments
If MENAco was a partnership for instance, then may be, but it states that MENAco is a "company".
A company owning greater than 10% is an insider. So why wouldn't MENAco not be an insider? The key phrase is "
The Company does not expect any new insiders to be created as a result of the Proposed Transaction."
If its not created, then is it existing?
(TSXV:SNV) is pleased to announce that it has entered into a non-binding memorandum of understanding (the “MOU”) to acquire, directly or indirectly through a subsidiary, shares representing 20% of the issued capital of a company existing under the laws of the United Arab Emirates (“MENACo”), which is engaged in providing well management and engineering, procurement and construction (“EPC”) services (the “Services”) in the MENA region (the “Proposed Transaction”).