YBM brokers got cheap stock

Article Abstract:

First Marathon Securities Ltd. and Griffiths McBurney & Partners Inc. were granted an option in October 1995, to buy up to 707,500 units in the troubled Pennsylvania-based YBM Magnex International Inc., a maker of industrial magnets and bicycles, at $2 each. Each unit consisted of one common share plus a partial warrant to acquire more shares. As brokers of YBM, the two companies were given 4% fee for helping YBM raise C$14 million in a private placement. According to YBM documents, all of the warrants were exercised in 1996.

Comment:

Along w/ First Marathon Securities, is granted an option in 10/95, to buy up to 707,500 units in YBM Magnex International

Strategy & planning, Securities Brokerage, Stockbrokers, First Marathon Securities Ltd., Article, Griffiths McBurney and Partners Inc.

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Sorbara's staff told of probe by OSC chief, Premier says

Article Abstract:

Ontario Premier Dalton McGuinty's office stated the chairman of the Ontario Securities Commission personally gave the permission to Finance Minister Greg Sorbara's staff to make an investigation into Royal Group Technologies Ltd. that could involve the key cabinet minister. The Premier's office disclosed the information in an unusual series of exchanges that appeared to be a conflict between the government and its securities regulator.

Legal issues & crime, Construction, Engineering Services, Engineering & Architectural Svcs, HEAVY CONSTRUCTION, EX. BUILDING, GENERAL BUILDING CONTRACTORS, Construction industry, Company legal issue, Investigations, Ontario. Securities Commission, Royal Group Technologies Ltd.

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Lure of tax havens proving irresistible

Article Abstract:

Canada Customs and Revenue Agency is concerned that offshore tax havens, such as the Cayman Islands, are diverting massive tax revenue streams away from government coffers. Tax officials reported that $44.6 billion has been invested in such tax havens in 2001.

Financial management, Other Financial Vehicles, Investors, not elsewhere classified, Taxes, Cayman Islands, Tax Shelter Investment Svcs NEC, Finance, Reports, Tax policy, Tax shelters, Company financing, Canada. Customs and Revenue Agency

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