Source: Saskatchewan Agriculture and Food
If you own shares that you would like to sell, or if you would like to acquire shares in Pound-Maker Investments Ltd. (PMI) of Lanigan, the company just made it a whole lot easier to do so.
Pound-Maker recently launched a web-based program in which any existing shareholder or member of the public may enroll as a “Participant” in the Share Trading Program, and then submit offers to sell or buy existing shares of the company.
Sheri Pederson looks after the program at PMI.
“We needed an easier way for people to let others know that they have shares for sale," she explains. "Our company has grown and been around for over 35 years now, and some of our shareholders are not in the farming business anymore. We needed a way for them to liquidate their shares and to let the public know that there are shares available to purchase.”
PMI will post summaries of all offers that are received through its website—including the number of shares that the participant is offering to buy or sell, the bid or asking price for the shares, the date the offer was made and the expiry date of the offer. PMI will then attempt to match as many buy offers with as many sell offers as possible at monthly “Trading Sessions” that will be held on the third Friday of each month.
“Our lawyer has a lot of influence in it because of his background,” explains Pederson. “It all had to be passed by the Saskatchewan Securities Commission before we could even attempt to go with it. Whether you are an existing shareholder or an individual interested in purchasing shares, you must enroll by printing the enrollment form that is on the share trading website and filling it out.
“On that enrollment form, there are a number of options. If you are a company, you fill in the incorporation date. If you are an owner of shares already, you must list the shares that you have, so we can ensure that one entity is not purchasing more than a certain percentage of the shares in the company. Once you are enrolled, I would send you back a PIN number and, from that point on, you can actually submit your buy or sell forms online.
“It is not like an auction where, if something matches, it falls off right away. The offer remains posted until the session closes and then, if there is a match, the shares are sold. If you went to our current trade share information right now, you would see the current share offerings. You also have the option of making a change offer if you so wish. If two offers are the same, the first one in gets it.”
Peterson says there are only a few people registered in the system as of yet, but she expects interest in the program will increase once word gets out.
Full details of the Share Trading Program are available at: http://www.pound-maker.ca/sharetrading.htm
Pound-Maker was originally established under the name Pound-Maker Feeders Ltd. in 1970, when about 50 local area farmers joined together to build a 2,500-head cattle feedlot to create an alternative market for their grain. By the mid-'80s, it had expanded to 8,500 head, and expanded dramatically once again in 1991 when the company increased capacity by 10,000 head and built a 10-million-litre-per-year ethanol plant.
Pound-Maker Feeders was then renamed Pound-Maker Investments Ltd. and reorganized as a holding company for local investors/shareholders, with the integrated feedlot and ethanol plant spun off into a new subsidiary operating company, Pound-Maker Agventures Ltd. (PMA).
For more information, contact:
Sheri Pederson
(306) 365-4281
sheri@pound-maker.ca
http://www.pound-maker.ca/sharetrading.htm
If you own shares that you would like to sell, or if you would like to acquire shares in Pound-Maker Investments Ltd. (PMI) of Lanigan, the company just made it a whole lot easier to do so.
Pound-Maker recently launched a web-based program in which any existing shareholder or member of the public may enroll as a “Participant” in the Share Trading Program, and then submit offers to sell or buy existing shares of the company.
Sheri Pederson looks after the program at PMI.
“We needed an easier way for people to let others know that they have shares for sale," she explains. "Our company has grown and been around for over 35 years now, and some of our shareholders are not in the farming business anymore. We needed a way for them to liquidate their shares and to let the public know that there are shares available to purchase.”
PMI will post summaries of all offers that are received through its website—including the number of shares that the participant is offering to buy or sell, the bid or asking price for the shares, the date the offer was made and the expiry date of the offer. PMI will then attempt to match as many buy offers with as many sell offers as possible at monthly “Trading Sessions” that will be held on the third Friday of each month.
“Our lawyer has a lot of influence in it because of his background,” explains Pederson. “It all had to be passed by the Saskatchewan Securities Commission before we could even attempt to go with it. Whether you are an existing shareholder or an individual interested in purchasing shares, you must enroll by printing the enrollment form that is on the share trading website and filling it out.
“On that enrollment form, there are a number of options. If you are a company, you fill in the incorporation date. If you are an owner of shares already, you must list the shares that you have, so we can ensure that one entity is not purchasing more than a certain percentage of the shares in the company. Once you are enrolled, I would send you back a PIN number and, from that point on, you can actually submit your buy or sell forms online.
“It is not like an auction where, if something matches, it falls off right away. The offer remains posted until the session closes and then, if there is a match, the shares are sold. If you went to our current trade share information right now, you would see the current share offerings. You also have the option of making a change offer if you so wish. If two offers are the same, the first one in gets it.”
Peterson says there are only a few people registered in the system as of yet, but she expects interest in the program will increase once word gets out.
Full details of the Share Trading Program are available at: http://www.pound-maker.ca/sharetrading.htm
Pound-Maker was originally established under the name Pound-Maker Feeders Ltd. in 1970, when about 50 local area farmers joined together to build a 2,500-head cattle feedlot to create an alternative market for their grain. By the mid-'80s, it had expanded to 8,500 head, and expanded dramatically once again in 1991 when the company increased capacity by 10,000 head and built a 10-million-litre-per-year ethanol plant.
Pound-Maker Feeders was then renamed Pound-Maker Investments Ltd. and reorganized as a holding company for local investors/shareholders, with the integrated feedlot and ethanol plant spun off into a new subsidiary operating company, Pound-Maker Agventures Ltd. (PMA).
For more information, contact:
Sheri Pederson
(306) 365-4281
sheri@pound-maker.ca
http://www.pound-maker.ca/sharetrading.htm
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