TORONTO, Aug 10, 2016 /CNW/ - Samara Capital Inc. announced that one fund it manages and advises, Samara Fund Ltd. acquired 438,000 common shares ("Shares") of Nordex Explosives Ltd ("Nordex") today through the facilities of the Toronto Stock Exchange at an average price of $0.25 per share. A take-over bid for all of the outstanding Shares was filed by OMNIA HOLDING LTD with the securities regulatory authorities on August 3, 2016.
Following the acquisition of these shares, Samara Fund Ltd now beneficially owns and Samara Capital Inc. exercises control and direction over, in the aggregate, 1,284,000 Shares, which represents, as at the date hereof, approximately 6.3% of Nordex's 20.4 million outstanding Shares, as reported by Bloomberg.
Samara has acquired such securities for investment purposes only. Depending on market conditions and other factors, Samara may from time to time acquire additional securities of Nordex or dispose of such securities in the open market, by private agreement or otherwise.
SOURCE Samara Capital, Inc
For further information: Ben Cubitt, President, Samara Capital Inc., 416 479 5408