Q: Hi 5i
Globe and Mail shows a "Canadian Insider" transferred in over 157 million shares of LMN, worth over $3.9 billion. When i saw that type of insider activity with Celsius it led to a few months of selling.
1) when big chunks of the company for example, LMN market cap is $9.6 billion, are "transferred in" does that usually portend an early investor is getting out/ moving on to next venture?
2) would such a large shareholder be CSU or the former CEO of Wideorbit or Titanium? I am wondering if those acquired company's CEOs plan to stay with LMN (corporate knowledge and development of business)- have there been any press releases in this regard?
TIA
Globe and Mail shows a "Canadian Insider" transferred in over 157 million shares of LMN, worth over $3.9 billion. When i saw that type of insider activity with Celsius it led to a few months of selling.
1) when big chunks of the company for example, LMN market cap is $9.6 billion, are "transferred in" does that usually portend an early investor is getting out/ moving on to next venture?
2) would such a large shareholder be CSU or the former CEO of Wideorbit or Titanium? I am wondering if those acquired company's CEOs plan to stay with LMN (corporate knowledge and development of business)- have there been any press releases in this regard?
TIA
5i Research Answer:
This only relates to the conversion of CSU preferred shares into common shares of LMN. CSU likely has no intention of selling shares in LMN, at least in the short term or as far as we know. The preferred share conversion relates to the initial structure of the spin out. It impacted earnings, but only once, and moving forward the earnings and structure will be much easier to understand for investors.