Bzam Ltd (BZAMF)

[Halks1122]

From IR;


As you may have seen there was a filing on SEDAR for an Early Warning Report on Tuesday. This is required by all holders of 10% or more when buying or selling shares. On Tuesday it was revealed that the selling through Scotia which began on Friday was a rebalance from an ETF fund ran by ETF Managers. This initial report was for selling ~2.6mm shares on Friday September 3rd which took the fund below 10%. This means that they no longer are required to file, however it is Scotia that continues to sell, which we assume is still part of the overall rebalance.

If you recall from a few months ago, the ETF Managers rebalanced up by acquiring ~15mm shares and ran the stock to 48c before completing their buy program. Once they went over 10% they then had filed an Early Warning Report on SEDAR.

This is admittedly heavy handed trading and I have made calls into both Scotia and the Fund Manager to discuss with no response so far.