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Tuesday, October 01, 2013 9:18:08 AM
When I was looking for the filling that came out yesterday, I stumbled across a Form SC 13G/A from Feb 13, 2012.
Basically what that type of form is to be filled when someone (investor or group) acquires a stake in the company between 5% - 20%
In the case of MRIB, it was a asset management group called GAM Holding Ltd based in Switzerland that acquired 10.67%.
Here is where it gets good:
GAM Holding Ltd trades on the Swiss Stock Excahnage under ISIN CH0102659627 with a Market Cap of 3,043,693,000 and a Price per share of 16.60 CHF curreny, convered to our USD that is a market cap of 3,370,646,502 (3.3B USD) and a price per share of 18.38 USD.
Further more, GAM's 2012 annual report shows that they have 116.2 billion CHF ($128.68 billion USD) assets under management.
Why would a Swiss based hundred billion dollar asset management fund want a 10% stake in $MRIB? Time will tell...
Sources of info:
Filling: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8397588
GAM 2012 year end report: http://www.gamholding.com/Media/Financials/Annual_Report_2012.pdf
GAM's stock info: http://www.gamholding.com/en/Default.aspx?page=30-investor%20and%20media%20relations/40-share%20information/10-share%20information.html
All my posts are nothing more than my opinion. Please, do your research of fundamentals, technicals, and due diligence before investing in any stock -especially penny stocks as they are extremely volatile.
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