Richardsons boost stake in GMP Capital

James Richardson & Sons, Limited has upped its stake in GMP Capital Inc., revealing it has bought 1,008,300 common shares on the open market since February 7, 2011.

JRSL, together with its subsidiary, Richardson Financial Group Limited, now owns 12.2 million common shares of GMP, representing 17.23% of the issued and outstanding common stock. The Richardsons also own warrants to acquire an additional 4,231,593 common shares. If these were exercised, the Richardson firms would own 21.89% of GMP’s common stock.

JRSL says its interest in GMP is strictly as an investment, but that it reserves the right to purchase additional securities of GMP as market opportunities exist or develop.

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