RE:RE:RE:RE:RE:RE:Question please Hi auburn2. Actually, I never said anything about having to urgently buy 250,000 Akita shares. All I said was that to buy, say 250,000 Akita shares, would take over 20 full days (even over a number of years) to purchase using half the average daily volume, because Akita is such a thinly traded microcap stock. And wealthy people would not use their time this way. You basically said that the Akita valuation must not be compelling if these wealthy directors do not own meaningful amounts of shares. Obviously I disagree as these very wealthy directors do not actually need to invest in anything, even if they see compelling value, especially if it is very time consuming to invest in a thinly traded micro-cap stock like Akita.
The Southern’s, who control Akita, have only bought Akita shares and have never sold any shares. They will only buy shares in the future and will never sell shares (especially at this low $1.30 price) unless Akita is bought by someone other than the Southern’s. They actually do not need Directors to buy Akita shares as that would result in the Akita share price going up which is a detriment to those only buying shares, like the Southern’s. In fact, the Akita share price is so low now and the Akita future prospects are so good that the Southern’s may pounce on this amazing opportunity to make a bid for the remaining Akita shares that they do not own, at below $2.
Actually, the Akita directors are really top quality, especially for a micro-cap company. These directors would rival any other Canadian oil and gas company, even the large cap ones. The Southern family relationship is the only way that Akita got these top quality directors. Two were president/VP of private oil and gas companies. Two held senior roles in the Atco group, one with a decade of drilling activity prior to Atco. One was the CEO of Husky Energy and another was the CEO of Shell Canada. The final two directors are from the Southern family, who own 12% of Akita through Sentgraf Enterprises. One of the Southerns’, Linda Southern Heathcott has purchased a further 1.7 million shares at about $1.50 per share, which are significant Akita ownerships for the Southern directors.