help me out here Flea.
"AGF Management Ltd. oversees a number of subsidiaries: AGF Funds Inc., AGF Trust Co., AGF International Co. Ltd., AGF Asset Management Asia Ltd., Adminsource Inc. AGF also holds a 40.3 per cent interest in NCL, a high-net-worth investment management firm based in London, U.K. and 70 per cent of Moneyworld Media Inc.".......
In the May 17 info circular there are 2 listings for persons who directly or indirectly exercise control or direction over shares carrying more than 10% of voting rights attached to all outstanding shares.
Southwestern gold 19,980,500 and
AGF MANAGEMENT LTD. 6,945,500! (NOTE: NOT AGF FUNDS INC.)
As can be seen above AGF MANAGEMENT HAS SEVERAL SUBSIDIARIES.
Since this circular was sent out in May, AGF FUNDS INC. have filed 2 acquisition reports. The 2 you refer to in your post. Both of these, reduced holdings of CNB in AGF FUNDS INC.
I have tried in vain to find any insider sales report for AGF MANAGEMENT LTD who are in fact the entity listed as having over 10% control. CAN YOU POST A REPORT SHOWING WHERE AND WHEN AGF MANAGEMENT LTD. HAS SOLD CNB shares resulting in fewer shares under their investment control and direction? If you or anyone else cannot find this reduction in CNB HOLDINGS, I would submit the possibility that the 6,945,500 share of CNB have NEVER LEFT THEIR CONTROL.! Am I correct to consider this?
AGF FUNDS INC., having over 10% may have to file an acquisition report. AGF MANAGEMENT LTD should not have to report insider sales "if", in fact the CNB shares have not left their over all control.
The CNB shares would in fact be allocated internally from AGF FUNDS INC. to other subsidiaries or asset management account/S.
This would go a long way in explaining why the push downward on CNB share price, followed by selling.
Regardless of the reasons, I am and have been trying to determine the "ACTUAL NUMBER OF CNB SHARES THAT AGF MANAGEMENT LTD, EXERCISES INVESTMENT CONTROL AND DIRECTION OVER. Blow a hole in my theory or help me put it to rest,because it bothers the hell out of me. |
