And before there was USIO there was Job Industries. By 1998 the sole asset of STFD was its holding in USIO with no press release or filing on SEDAR in between that would explain what happened. Anybody know anything about Job?
11/25/97
Securities Act
REPORT OF ACQUISITIONS
Report of acquisition under section 111 of the Securities Act, R.S.B.C. 1996, c. 418.
Stamford International Inc. ("Stamford" or the "Company") advises that on April 29, 1997, it held 3,335,500 shares, or 20.41% of the issued and outstanding shares of Job Industries Ltd. ("Job"), a company whose shares are listed on the Vancouver Stock Exchange.
Since that date, Stamford has acquired on its own behalf as principal 1,608,750 additional shares through the facilities of the Vancouver Stock Exchange, and 820,000 shares through the exercise of share purchase warrants. These transactions resulted in increasing the Company's total ownership in Job to 5,764,250 shares, or 33.06%. In making the acquisitions it did through the facilities of the VSE, Stamford failed to comply with certain requirements of the Securities Act (B.C.) concerning takeover bids. As a result, certain persons may have a statutory right of action for rescission or damages under the Act. On November 13, 1997, Stamford brought this matter to the attention of both the Vancouver Stock Exchange and the B.C. Securities Commission and has provided both agencies with an undertaking that it will seek legal counsel with regard to all future transactions to insure compliance with the Act.
The Company currently holds share purchase warrants for the purchase of 2,080,000 shares of Job. Except for the shares that may be acquired on exercise of these warrants, the Company has confirmed that it will not acquire any additional shares of Job until further notice.
Stamford's purpose in making its acquisitions was to increase its investment in Job from which Stamford acquired the rights to the exclusive marketing and distribution of the Ice Blast technology in the Southeastern United States and the right of first refusal to the marketing and distribution rights in six Northeastern states. No directors of Stamford have been appointed to the board of Job.
The Company may wish to increase its holdings at some point in the future, but will only do so pursuant to the applicable reporting and takeover bid requirements.
There are currently 16,501,057 issued and outstanding common shares in the capital of the Company.
"France Crawford"
France Crawford
Secretary and Director |
