Pound-Maker Investments Ltd., which owns an ethanol plant and feedlot at Lanigan, Sask., has launched a web-based program for trading the company’s shares.
Under the program, anyone may register as a participant and submit offers to sell or buy existing shares. The company will post on the website the number of shares the participant is interested in buying or selling, the bid or ask price, the date offered and the expiry date of the offer.
Trading will be conducted monthly on the third Friday of the month.
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The program is governed by the rules of the Saskatchewan Financial Services Commission. Full details are available at www.pound-maker.ca.
Company president Brad Wildeman said the program is designed to improve liquidity and price discovery of the shares, which are not listed on a public exchange. Most shareholders have held their shares for 25 years or more and some are interested in selling while others want to buy more.
The company has 643,000 class A shares outstanding, held by about 250 shareholders.
In 2004-05, the company earned a profit of slightly more than $3 million on sales of about $40.5 million.
