DARTMOUTH – Newfoundland Capital Corporation chairman and majority shareholder Harry R. Steele has acquired control of an additional 745,305 Class A subordinate voting shares of Newfoundland Capital Corporation Limited, representing 3.1% of those outstanding, at a price of $8.00 per share under a private agreement with one vendor.
Steele now owns or controls 17,040,904 Class A shares, representing approximately 69.9% of the outstanding Class A shares and 3,658,002 Class B common shares, representing 97.0% of the outstanding Class B common shares, the company said Tuesday.
The purchases were made for investment purposes, reads the company’s new release. 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.
