Boardwalk Equities Inc. says controlling shareholders Sam and Van Kolias plan to sell up to 290,000 shares of Boardwalk from their combined holdings.
It said the sales will take place through the Toronto Stock Exchange starting about April 17. The Calgary-based property management and investment company said president and chief executive officer, Sam Kolias, and vice-president, Van Kolias, together hold 17,458,800 Boardwalk shares, about a 36-per-cent stake.
Boardwalk said the 290,000 shares will be sold to allow them to repay debt, for tax planning purposes and to raise cash for charitable causes. The company said they aim to maintain their significant equity stake in the company.
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