Author Topic: WED - Westaim Corporation  (Read 4593 times)

petec

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Re: WED - Westaim Corporation
« Reply #10 on: April 04, 2018, 12:59:13 AM »
Quote
On June 2, 2017, the Company closed an initial subscription by Fairfax of C$50,000 of Preferred Securities (the “Fairfax Financing”). The
proceeds raised from the Fairfax Financing were used by Westaim to make interest bearing loans to the Arena Group (see note 4). The
Company had discretion until January 1, 2018 to require Fairfax to purchase all or part of the remaining 5,000,000 Preferred Securities, and had
exercised its discretion not to do so.

From page 61 of the Annual report - Will take a more in depth look this weekend

Yes, I assumed as much from the value given for the Westaim investment in Prem's annual letter.

I suspect Westaim know Fairfax are keen for more of these deals and would rather go back and ask for more when they have something to do with the money.

Prem still referred to Fairfax's right to invest up to $500m in debt sourced by Arena. I originally thought this value rose with each tranche of prefs to a maximum of $500m. Maybe I was wrong.


Mondegreen

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Re: WED - Westaim Corporation
« Reply #11 on: May 02, 2018, 03:13:12 PM »
Interesting links regarding Westaim.

January 2015 - Toby Shute - Manual of Ideas:
https://www.valuewalk.com/wp-content/uploads/2015/02/the-manual-of-ideas_toby-shute_2015-01.pdf

March 2018 - Steve Vafier
https://medium.com/@svafier/the-westaim-corporation-526ea5820801

April 2018 - Westaim press release
https://westaim.com/wp-content/uploads/Westaim-Press-Release-April-16-2018.pdf

May 2018 - Arquitos 2018 Q1 report - I am not sure I am allowed to post this but it is available via Reddit - Security Analysis
https://www.reddit.com/r/SecurityAnalysis/comments/8b631d/q1_2018_letters_reports/

Philbert77

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Re: WED - Westaim Corporation
« Reply #12 on: September 29, 2018, 12:02:44 PM »
So I was really hoping to hear something materialize in regards to this announcement:

"Toronto, Ontario – April 16, 2018 – The Westaim Corporation (“Westaim” or the “Company”)
(TSXV: “WED”) announces that, in view of the ongoing insurance industry consolidation activity and the
receipt by Westaim and Houston International Insurance Group, Ltd. (“HIIG”) of several unsolicited
enquiries, Westaim and HIIG may consider opportunities to enhance the growth and value of HIIG."

I thought we'd hear about either a divestiture or a acquisition but it has now been 5 months and nothing has happened. Does anyone know anything further or have some info that i have missed?

Steven B

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Re: WED - Westaim Corporation
« Reply #13 on: October 04, 2018, 02:41:40 PM »
Good question. Was wondering same; apparently the offers didn't have their "funding secured"....