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Shell Summary for Sept. 30, 2015

2015-09-30 20:58 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange increased by a fraction to close at 524.58 Wednesday, ending the month down 34.58 points. Anton Konovalov and Steven Mintz's halted capital pool shell, Dominion General Investment Corp. (DGA), will ask shareholders at an Oct. 27 meeting to approve various conditions so that it can go ahead with its qualifying transaction of acquiring Peter Deeb's Hampton Equity Partners Ltd., an investment company that owns Toronto brokerage firm Hampton Securities Ltd. (which sold the initial public offering for Dominion General).

The shell anticipates issuing two classes of voting shares to ensure Mr. Deeb maintains full control over his brokerage firm. Dominion will convert its 2,591,700 shares into subordinate voting shares at a ratio of 1:1, and then issue 13,789,872 subordinate voting shares plus 24,239,752 multiple voting shares to the shareholders of Hampton Equity. Each subordinate voting share will be worth one vote and each multiple voting share will be worth 20 votes. Deeb & Co. Ltd., a company owned by Mr. Deeb, will own all the multiple voting shares. Following the transaction, Dominion General will change its name to Hampton Financial Corp.

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