Dorchester investors exercise 134 mln options, major shareholders asked to sell down

Tue, 04 Jun 2013

By Paul McBeth June 5 (BusinessDesk) - Dorchester Pacific investors have exercised more options than the financial services firm was expecting and it has asked major shareholders whether they are willing to sell down their stakes in a placement. About 134 million options were converted to shares at 12.5 cents apiece, or $16.75 million, out of a total 150 million, Dorchester said in a statement. That was ahead of the 120 million to 125 million expected, and means the pool for a proposed placement of up to 30 million shares may be smaller than...

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