Ann: Becoming a substantial holder, page-15

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20/04/18

09:09

Post #: 32576464
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Originally posted by rcman ↑

TORONTO, ONTARIO--(Marketwired - April 21, 2017) - MM Asset Management Inc. ("MMAM") announced that it intends to reject the offer made by Pollard Banknote Limited ("Pollard") to acquire Innova Gaming Group Inc. ("INNOVA") for $2.10 per Share. MMAM exercises control or direction over approximately 11.3% of the outstanding common shares of Innova.
MMAM believes that Pollard's offer materially undervalues Innova common shares, which have an analyst target price range of $3.00 to $4.50 per share. Notably, Innova completed its initial public offering less than 2 years ago at $4 per share.
MMAM encourages Innova's special committee to run a full strategic review process that we expect will lead to a sale transaction at a significantly higher price.

Contact Information:
Albert Maierovits

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What was the outcome of that? $2.50 per share valuation.

https://www.newswire.ca/news-releas...y-acquisition-at-250-per-share-631912253.html

Not sure how much sway MM had on this one, or if there was any larger players involved.

AGO Price at posting: 3.0¢ Sentiment: Hold Disclosure: Held
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Ann: Becoming a substantial holder, page-15

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