NEWMARKET, Ontario—P. Gren Schoch, chairman and CEO of AirBoss of America Corp., filed an early warning report related to his purchase of shares in the Newmarket-based producer of rubber goods and compounds.
AirBoss said it released a statement on the purchase in accordance with a Canadian law titled "The Early Warning System and Related Takeover Bids and Insider Reporting Issues."
On June 28, Schoch purchased 5,000 common shares of AirBoss on the Toronto Stock Exchange at an average price of $8.09 a share, according to the AirBoss statement. That brings his total ownership stake of the outstanding common shares of AirBoss to nearly 21.2 percent, consisting of 4.76 million shares he owns and another 247,273 shares on which the chairman holds exercisable options to buy.
The firm added that in the 12 months preceding this purchase, that stock purchases by Schoch or anyone "acting jointly or in concert with Mr. Schoch," did not exceed 5 percent of the number of outstanding common shares.
Schoch purchased the shares for investment purposes only, AirBoss said, and may increase or decrease his ownership stake, depending on market and other conditions.