Sino Vanadium execs give minorities a 180% premium as farewell present
Top management and eight shareholders who control 73.9% of the outstanding shares of TSX-Venture listed Sino Vanadium on Friday announced that they are taking the tiny firm private. The company first listed in June 2009.
The share tripled on Friday to 21c and 108,200 shares changed hands compared to the usual 1,000. The company is offering 27c to shareholders who turn in their shares over the next month, so some investors appear to be cashing in early. Sino Vanadium owns 100% of a project in China's Shaanxi Province in the feasibility stage which it says could produce 14% of world vanadium supply.