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BlackBerry Limited Message Board

  • teknowiz teknowiz Nov 19, 2013 11:07 AM Flag

    Is Watsa free to buy again?

    Being a lead director, does he or his funds in some sort of blackout window?

    Does anyone know? Not sure what Canadian laws are.

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    • Watsa started buying at $55 per share. He is very smart and my hero! If I know this brilliant trader is buying, I will buy more. In fact, I will buy your shares for $55 if you like. That is how much I admire Prem! He is really smart.

    • The subscription agreement(for the debentures) has a clause which prohibits Watsa or he's debenture purchase partners from buying more shares....
      In fact, as I read clause eight and nine of the agreement it seems to prevent him from holding all the shares he has and holding the debentures, but the document filed in regards to the debenture closing seems to imply that he still held his common as of 11/15...
      As far as selling his holding, clause nine says that he agrees to maintain at least 9.9% of the company and that his debenture conversion rights can count as part of his 9.9%... I think he can at least sell some common (if his common plus debenture conversion exceeds 9.9%) and as I read clause eight of the "subscription agreement" which limits his group's holding to 19.9% it almost seems as though he must sell a portion of his common.
      I started looked through the actual contractual language of the debentures (a densely worded hundred and twenty five pages or so) but about halfway through I realized that I didn't care enough to waste my time...
      All these documents can be reached via the bbry investor's page..
      I bet that a few thousand serious investors have read through it all and the verdict seems to be not so positive.
      I think the next conference call will be the inflection point... If a creditor or any group of creditor's starts complaining about not being paid I would run away from this investment.

    • racebill Nov 19, 2013 12:12 PM Flag

      You can hope all you want for the rimtard king to save you but it will do no good,rimtard
      5s are as good as here. LMAO at you

    • With the latest financing deal, watsa has pledged not to sell shares for 1 year. Since he won't be selling for at least a year, he is most likely adding, as he is not restrained by the 10% ownership. If you go over 10% ownership the reporting of shares sold and bought changes as you can not exit your position quietly. Watsa clearly does not wish to exit his position. There is no reason he can not be buying, unless he knows of material positive changes that would move share price higher.

      Sentiment: Strong Buy

    • tracey563 Nov 19, 2013 11:14 AM Flag

      its traded on nasdaq he has to comply with our rules,he has to file as he is a 10 percent or larger shareholder as well as a co director.

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