Can anybody help?
Posted: Friday Feb 29 12:00:29PM 2008
Looks like an investment firm is getting control of IPLAYCO....can anyone comment on what this could mean? Thanks Pearl tention Business Editors: Hummingbird acquires additional shares in IPlayco Corporation Ltd. TORONTO, Feb. 28 /CNW/ - Hummingbird Management LLC ("Hummingbird") announced today that The Tarsier Nanocap Value Fund, L.P. ("Tarsier"), a fund advised by it, has acquired an additional 156,000 Shares, through a series of two acquisitions on January 28 (66,000 Shares) and February 14, 2008 (90,000 Shares), in IPlayco Corporation Ltd. (the "Company"). Together with Shares previously acquired, Tarsier now holds an aggregate of approximately 11.08% of the issued and outstanding Shares, based on 9,686,687 Shares being outstanding. The Shares were acquired through the TSX Venture Exchange. The Company is a Langley, British Columbia based manufacturer of modular play structures. Tarsier has acquired the Shares for investment purposes, and may acquire further Shares, or dispose of its holdings of Shares, both as investment conditions warrant. Hummingbird or Tarsier may seek to influence decisions of management and the directors of the Company including, without limitation, by seeking representation whether by membership or through observer status on the board of directors or otherwise. Hummingbird or Tarsier may also determine to approach the Company and ask it to explore strategic alternatives with a view to the enhancement of shareholder value. At the present time, neither Hummingbird or Tarsier intends to acquire control of the business of the Company or to acquire 20% or more of any class of outstanding voting or equity securities of the Company. The Company is listed on the TSX Venture Exchange under the symbol "IPC". Hummingbird, headquartered in New York, advises a family of funds focusing on value investments in microcap and nanocap issuers. For further information: Paul D. Sonkin, The Hummingbird Value Funds, 460 Park Avenue - 12th Floor New York, New York 10022, tel: (212) 750-7117, www.hummingbirdvalue.com