NET To Sell or Not To Sell!

[gregpet]

I don't think I heard you voicing your opinion today.

[fjlip]

92% of shares represented voted to sell.
I thought it would be closer.

[gregpet]

So did I but the majority has spoken. Will be a few wealthier individuals walking around Wadena.

[SASKFARMER3]

I was going to sell my shares so sat their and listened. At one point when the old joker in front wanted to know how C shares were formed and why the guys that worked to build it should have been issued shares I Just about stood up. His equal one for all NDP BS started my blood to boil but then settled down. The younger guy that was complaining I really didn't get his point and he went on and on and on. Dwayne did end with some dignity I felt saying what the share holders choose to do is their right.
The comment that it was obsolete the day after we built it hit home. The scale and drive way problems etc. All in all it was a good day for all. I went home very happy. Some times you win with an investment some times you loose. This one well lets just say it was a very good day.
Now the Terminal to the south the day it sold wasn't a very good day.

[BTOfarmallll]

My buddies at Pioneer got it. Gon use to collect canolie, then ship to Yorktown fer crush. Main idea fer buyin, fits like a glove into their operation. They will git all that money back before yous know it, nevermind the fertilizer/chemical retail outlets. Thats the times yous are livin in folks, consolidate, consolidate, consolidate.....

[SASKFARMER3]

Hey LPA its nice to see you back. Welcome.

[gustgd]

Richardson Buys North East Terminal
Written by Neil Billinger - 600 Action News-Local First
Friday, 08 April 2011

Local shareholders voted in favor of accepting a $25 million offer put forward by the private grain company for the 38,000 tonne facility and four crop input centers.

About 170 people attended the special meeting in Wadena on Wednesday evening. 71 per cent of shareholders were present or represented by proxy. Of that total, 92 per cent voted in favor of the sale. Cargill also held a 22 per cent stake in North East Terminal, but said it would abide by the wishes of local shareholders.

The sale is expected to close next Thursday, but shareholders will have to wait a little longer to get their money.

"Richardson-Pioneer will be forwarding the money on or before the close," says Garnet Ferguson, North East Terminal General Manager. "As soon as we get permission from the Canada Revenue Agency (CRA), we will start to distribute the money to the shareholders. We hope to have three-quarters of the money to the shareholders within two or three months, but it is contingent on getting permission from the CRA."

Each share is worth about $750.

Richardson is looking to establish a strong presence in the area to help feed its new canola crushing plant in Yorkton.

[gustgd]

Question
What was an origional share worth?

When adjusted for inflation did they make money, or was this more of a chance to deliver locally and maybe get some dividends?

Seemed like a good turnout.

[gregpet]

Original share was $100. $25 was returned back through a government incentive (small business something?) and $72 per share has been returned through return to capital throughout the years.

[SASKFARMER3]

The meeting was in the afternoon and their was more than 176 people their.
The shares were worth 100 and yes 25 the gov paid out in first year through a prov program and 72 pas paid back over the years. IT needs a rebuild on some of the building.