Cartier Capital Limited Partnership has added to its stake in Cartier Partners Financial Group Inc.
Cartier L.P. paid 6.84¢ per share, or $212,938.77. The privately acquired 311,314 common shares represent about 0.18% of the currently outstanding common shares of Cartier Partners.
Cartier L.P. now exercises control or direction over 69% of the currently outstanding Cartier Partners shares.
The acquisition was completed in accordance with the terms and conditions of an agreement entered into between Cartier L.P. and Harry Quigley on Oct. 8, 1999.
Quigley had the right to require Cartier L.P. to acquire any or all of the common shares held by him, subject to certain conditions. On Oct. 15, 2003, Quigley gave notice to Cartier L.P. of his intention to sell 311,314 Common Shares held by him to Cartier L.P.
On May 22, 2003, Cartier L.P. disclosed its intention to seek a buyer for its interest in the Cartier Partners.