Superior Plus Corp T.SPB

Thirteen Million Shares

[Schussing56]

I checked the insider report for Superior again this morning, in my brokerage account's information section. The M&B sale is clearly listed but, under buyer, it merely says "private sale" so, if others on this site are adamant that it was CIBC Wood Gundy that bought the shares they must be privy to information that is not available to the general public. Anyway, it doesn't really matter who bought the shares. I'm more interested in why M&B sold, and, at a loss. M&B is a private company, currently in control of roughly US $1.18 trillion worth of equities so, the sale isn't particularly material to their overall business model but still, losing $26 million has been enough for some financial manager to get the axe.

[bttmfischer]

As you pointed out some time ago, Marquard and Bahl's website did report the sale of April 23rd. Those two posters ignoring that as the governing report of the sale of 13 million shares, do not know that two half-wits do not a whole make.

[pennydredful]

Perhaps   they   were   rebuffed  by the company  if and   when  they asked   for   a seat  on the  BOD  ?     so  decided   to  sell  ?    A   question   will   be   whether   they  come back  and

[Schussing56]

Here is the official news release regarding the M&B sale of Superior shares: An unknown buyer acquired 6.48% stake in Superior Plus Corp. (TSX:SPB) from Marquard & Bahls AG for approximately CAD 130 million on April 25, 2023. Marquard & Bahls sold stake through a private sale agreement at price of CAD 9.79 per share and a total consideration of CAD 127.27 million. Notice that the

[pennydredful]

Wood   Gundy    were  in effect   acting   as agent   to   resale   the  shares   ,  however   since   they   bot   them    in effect    they    guaranteed   all  the shares   would be sold .   They

[JamieDimon]

 pennydredful, there is no sense in trying to explain things to them. they don't know. they will never know. and their $5000 accounts wouldn't ever warrant a call from a broker

[pennydredful]

You  are right  .  Reminds   me  of a song:    I  forgot more than you  will  ever  know about.........

[Schussing56]

Here is rule #5 for block share sales involving Canadian companies, from page 30 of the TMX rulebook: Issuance of Exchange Bulletin—The Exchange shall issue a bulletin respecting the proposed sale from control which bulletin will contain the name of the seller, the number of securities of the listed company held by the seller, the number proposed to be sold, and any other information that the

[pennydredful]

the  sale   does  not  qualify   under  this section   as   it   is   not   a sale  from  " control"  .The  word   control  means  roughly  they   control  the company  and   an   entity  in  "control

[Schussing56]

No, I think you've got this wrong Dreadful, just like you got the information about CIBC in the SEDI report wrong. "Control" is merely referring to how many shares the listing company has control over. The ruling goes on to state that the listing company must declare how many shares it owns, and there is nothing stating whether they need to own a certain number of shares for the rule

[pennydredful]

They  filed  an  Early   Warning   report   as  required on   website   SEDAR  .  CIBC   Wood Gundy   is   an  older  name  while  CIBC   world   markets    is a newer  name  they   adopted.  .  IMO   

[Baystboy07]

You all should all the IR dude and get your questions answered. Block sale was done....M&B got $9.79 on the sale...CIBC charged them a 3% commission. Shares were placed by CIBC to institutional investors on a bought deal basis I believe. Call and ask the IR guy..he is listed in the $SPB website

[bttmfischer]

Where is the 3 percent cimmission CIBC received stated? What is the credible source of this statement? How do you know that iy was 3%? It is on the high side.  Were you PERSONNALLY  INVOLVED IN ANY PART OF THIS TRANSACTION and claimed to be the "reliable source"? If you were, than YOU SHOULD KNOW THE IDENTITY OF THE BUYER. We all know who the seller was. This guessing is

[Baystboy07]

No need to shout...and stop being ignorant...as I indicated call the IR guy at $SPB and ask. He will confirm all this information. Rob Dorran  Tel: [phone]  

[pennydredful]

CIBC   had  nothing  to  file  on SEDI    as   the shares   they   bought  and  re sold   were  less   than  10%   so   they   never  were  an   insider. 

[Schussing56]

It's my understanding that, under the Universal Market Integrity Rules (UMIR), insiders and significant shareholders are treated the same and subject to the same reporting requirements.

[pennydredful]

nope .  Many  institutions  are  exempt  from   filing   insider  trading   reports  even  when  they   own  more  than   10%   the   normal threshhold  for  filing  insider  reports  unless  you  are a director or senior  officer. The

[pennydredful]

The   phrase   you  use   " significant shareholder"   is   totally   imprecise   so  useless    unless  quantified  .

[Schussing56]

The Canadian Securities market is highly unregulated. Within Canada, every province has its own rules. Here is what UMIR states: For further clarification, reference must be made to the securities legislation of every jurisdiction in which the issuer is a reporting issuer or equivalent. In my opinion, there is no question that M&B are significant shareholders but, it appears as if such a