Public market insider buying at ShawCor (SCL)

Public market insider buying at ShawCor (T:SCL)

Derek Stuart Blackwood, a Director, acquired 45,000 Common Shares on a direct ownership basis at prices ranging from $7.283 to $7.430 between March 4th and 5th, 2020. This represents a $331,397 investment into the company's shares and an account share holdings change of greater than 100%.

Stephen Michael Orr, CEO, acquired 9,000 Common Shares on a direct ownership basis at a price of $7.450 on March 4th, 2020. This represents a $67,050 investment into the company's shares and an account share holdings change of 31.2%.

ShawCor is in the Oil Related Services and Equipment Sub Industry Group under the Energy Sector.

Shawcor Ltd. is a global energy services company serving the Pipeline and Pipe Services, Composite Systems, and the Automotive and Industrial segments of the energy industry. It operates approximately eight divisions. The Pipeline and Pipe Services reportable segment comprises Pipeline Performance Group, Pipeline Performance Products, Shaw Pipeline Services, Shawcor Inspection Services and Lake Superior Consulting. The Composite Systems reportable segment includes Composite Production Systems and Oilfield Asset Management divisions. The Automotive and Industrial segment, which consists of the Connection Systems operating unit. Connection Systems is a manufacturer of heat-shrinkable products including thin, medium and heavy-walled tubing, sleeves and molded products as well as heat-shrink accessories and equipment. Connection Systems also manufactures wire and cable for control, instrumentation, thermocouple, power, marine and robotics applications. ShawCor Ltd. (SCL) has below median officer and director direct ownership compared to its small-cap peers in the market, based on our estimate using SEDI data. According to regulatory filings yesterday, two insiders have invested a total amount of $398,447.