I definitely heard correct on that figure, here's her email to me:
Nick,
The insiders own approximately 1% at this point. The current CEO (appointed full time late last year) is starting to accumulate shares and you should have seen a share purchase on SEDI from back in November or December.
Because Banro has been an active company for over 18 years, insiders have owned varying percentages of the stock at various times. Their Banro ownership is a personal investment decision. Banro is nearly 90% institutionally held by blue chip investors, for whom the insider ownership is not an issue.
Regards,
Naomi Nemeth,
Vice President, Investor Relations
Banro Corp
