Clublink repurchases almost 400k shares before merger is announced

Rai Sahi is the CEO and largest shareholder of both Clublink and Tri-White. He has been overseeing large repurchases of company stock by both companies through normal course issuer bids over the last years. Through these repurchases he has been able to increase his ownership interest in both companies. (You can check out the inside purchase reports for the companies here – Tri-White 17 page insider buying report and Clublink 20 page insider buying report)

Now, Rai Sahi has decided to simply use his huge ownership stake in the companies to take over Clublink as cheaply as possible, thereby shortchanging the average investor by millions of dollars. The current deal values Clublink at a $40 million discount to book value and almost $100 million discount to estimated liquidation value.

Rai Sahi, the CEO of Clublink and Tri-White is litterally robbing the average shareholders in Clublink of millions of dollars and he must be  stopped. We must vote against this takeover or demand that the price be increased dramatically to reflect the true value of Clublink shares.