Correction re CHEK Ownership: Employees Maintain Majority Ownership
Earlier today PSR published a story about ownership of CHEK which we’re told was inaccurate.
News Director Rob Germain sent an e-mail detailing the corrected picture, which is reproduced below. We regret any misinformation that may have been disseminated.
Your report is inaccurate. The Sampson family continues to hold less than a majority of shares in CHEK.
CHEK is seeking approval from the CRTC to buy-back some shares. An application to the regulator was first made last spring.
The CRTC ruled the initial buy-back proposal would result in a change of control.
So CHEK has since revised its application. Our aim is to preserve and strengthen the employee-owned nature of the company and ensure there is no change of control.
The Sampson family has shown great support of the employee-ownership model at CHEK (and at Nanaimo’s Harmac pulp mill) and they continue to do so.
Published on February 8, 2018 at 6:27 pm by clockwatcher
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