DARTMOUTH – The chairman, and past president and CEO, of Newfoundland Capital Corporation (NCC), controlling shareholder Harry R. Steele has purchased more shares of the company.
The company said in a statement Thursday that Steele, its founding president in 1972, has acquired 312,900 Class A Subordinate Voting Shares of NCC Limited in a purchase through the Toronto Stock Exchange. Trading at around $19.25 a share, the purchase was an investment of just over $6 million.
Steele now owns or controls 3,839,761 of the Class A non-voting shares representing approximately 39.4% and 1,212,434 Class B Shares, or over 90%.
The purchases were made for investment purposes, the statement said. Subject to regulatory limitations, Steele and companies controlled by him may acquire, dispose of or continue to hold shares in the normal course of his investment activities.
NCC owns and operates Newcap Radio, one of Canada’s leading small and medium market radio broadcasters, with 78 FM and AM licences throughout the Atlantic provinces, Ontario and Alberta.
