Sherritt International Corp T.S

41.4 M shares traded, 40 M bought by BBS Securities

[llesage]

What do they know?

[rkhosla]

Isn't that basically exactly the size of the Clearwater stake? Just over 10% of float? If so, they would have to disclose the sale.  Likewise, if one party bought this many shares, they would need to do a disclosure.  

[autofocus111]

That's wild. I wonder who the buyer is?

[rkhosla]

Someone with $6.2 million to lose.....  

[Singoa58]

Garbage company...  not respecting embargo    ... delist soon

[llesage]

Cormark Securities sold 36.7 M and CIBC sold 3.3 M. The buyer is BBS Securities.

[rkhosla]

But those aren't the actual buyers and sellers - just the dealers / custodians....

[Contrarian333]

If I had to guess I'd say that Clearwater was the seller and SC2 was the buyer.  If so, here comes some overt activism.

[rkhosla]

Well we won't have to guess much longer. IIROC rules are that a new owner of 10% or more needs to disclose within 10 days and an existing insider, which Clearwater was, needs to disclose within five days. That's my read of it anyways. But I think you're probably right.

[rkhosla]

The transaction was at 15.5c