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Bar Harbor Bankshares Message Board

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  • Daniel_Raider Daniel_Raider Sep 2, 1998 6:36 PM Flag

    mlaws98, JS1032, I only felt half the pa

    Just curious as to the basis for your statement.

    I've looked at BHB's SEC filings and haven't seen anything suggestive of a position in Bar Harbor Water.

    Any enlightenment appreciated.

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    • I have a copy of Bar Harbor Waters annual report
      filed with the PUC. It lists BHB has the largest
      shareholder with 459 shares. Now this doesn't say if they're
      held for the bank or for trust customers. It could be
      either since the water company is also one of BHB
      largest creditors. I'm looking for shares in the water
      company. I don't care if you want to sell 1 share or 100
      shares.

      • 1 Reply to OCTOBERCRASH
      • Thanks for the prompt and interesting
        response.

        I wish I could offer you some BAHR. I spent some
        time looking for shares a couple of years ago and gave
        up without being shown
        a single share.

        If
        BHB does own the BAHR shares as part of BHB's trust
        operations, which I think is likely, and BHB has investment
        power with respect to such holdings, I believe that BHB
        would have a fiduciary obligation to accept a bid for
        shares which is in the best interest of the beneficiary
        of the trust. I have no idea what the "market" price
        is of BAHR, but you if you're anxious to own at
        least a small number of shares, you might consider
        making a written offer to BHB's trust department at a
        price of perhaps 10% or 15% above
        "market".

        Thanks again for the reponse, and good luck in the hunt.

 
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