Mike Lazaridis Received Million Dollars from Blackberry Shares Sale

Mike Lazaridis has received 26 million dollars in the form of shares from BlackBerry. He had reduced the overall stake of his newly formed Smartphone Company. He filed different documents on Tuesday to display numbered company registered in the city of Ontario and completely controlled by the help of Lazaridis. Since Monday, he is responsible for selling of 3.5 millions of shares in the Blackberry. See more about this on onenewspage.

Both of these transactions have taken the stake of Mike to lower than 5 percent of the BlackBerry i.e. the threshold, in which regulators have to give reports about any of the future selling of shares within the company. First sale of the company has made on Monday, where 3.17 millions of shares were sold that too at an average amount equal to 7.55 dollars over the open market. After this, second transaction has taken place on the day of Christmas Eve, where same numbered company had sold 333,107 shares at the average rate equal to dollar 7.63.

Douglas Fregin, fellow co-founder of the company with one of the global achievers named Mike Lazaridis is responsible for establishment of the Research in Motion, which have later on become the company of BlackBerry. In conclusion, the complete transaction has reaped at the value equal to 26.5 millions of dollars. People have made both of these sales with the help of 1258701 Ontario Ltd. This is actually an investment holding association, whose working is based on documents obtained from American Exchange Commission and Securities Group. In the month of October, company lead by this business tycoon had remained a part of the efforts by founders of the Blackberry Company named Doug Fregin and Lazaridis for submission of the bids of Blackberry at the Ontario based company named Waterloo.