There are no casual observers in the ABC District’s ongoing CEF/DIL debacle. In spite of what’s obviously been a rough three years for depositors, last year there was some hope when the value of the money ABC District lost was transferred into ownership of Prince of Peace Village near Calgary. Depositors became shareholders. I worked for SAGE for just a month or so, and during that time the most-often asked question was “how do I sell my shares?”
Had shares gone on sale at that point, it’s very likely shareholders would have taken a bath. The whole ABC District mayhem was complicated and messy enough without adding a wild west stampede of sellers – share values would have tanked and the only winners would be the buyers.
A year later, and SAGE Properties – the holding company owned by former depositors – has a new website which it says is cost-effective and user-friendly (in my books cost-effective IS user friendly, but I get what they’re saying).
The website is www.sagedatabase.ca
The official email from SAGE Board Chair Sandra Jory says the site will, “…provide a listing of shareholders who are interested in selling their shares. It will also provide a listing of those individuals who are interested in purchasing shares.”
If you want to use the service, you’ll have to set up an account.
SAGE seems to understand its shareholders: there’s a downloadable guide which takes you step-by-step through the process (which is brilliant). The guide is available at the SAGE Properties website.
Finally, they also know that a lot of depositors don’t have meaningful Internet access. Anyone who is offline for whatever reason can call SAGE Properties at 403-478-9661 and ask for Laura.