20th of November 2010 Author: Ava Jackuard
Shares sold in private deal
After Bingo.com announced its gloomy Q3 results, another report followed - that its shareholder Praetorian Capital Management has sold off its 8,675,999 shares, which make up 13.58 percent of the issued and outstanding shares of Bingo.com Ltd. The shares, valued at $477,180, were sold in a private, un-brokered transaction to non-US residents.
Praetorian Capital Management CEO Harris Kupperman on this occasion said: "We would prefer not to be exiting this investment at this time, however tax considerations played a significant part in our decision and its timing."
On the other side, Tarnie Williams, CEO of Bingo.com Ltd commented: "We look forward to a similarly productive relationship with the purchasers of Praetorian Capital Management's holdings.'
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