Ethanol co-op harnesses Internet for share trading Tuesday, April 26, 2011 by PAT CURRIEIn a move to ease the lack of full liquidity that is a common problem for co-operatives, Integrated Grain Processors Co-operative Inc. (IGPC) has partnered with Caldwell Securities Ltd. to create a new share transfer platform for Integrated’s 850 shareholders.‘We wanted to provide a platform for them to more easily buy more shares or sell some of their shares," said Tom Cox, chair of Integrated’s board. The Internet-based platform will provide quick access to lists of both buyers and sellers and the amounts they are either offering of asking. It can be accessed through both the Caldwell and IGPC websites or by contacting Caldwell directly. IGPC operates Canada’s largest co-operatively owned ethanol plant.Cox termed Caldwell "one of Canada’s most respected independent investment advisory firms."Alymer -based IGPC has been operating since the fall of 2008. It was launched with $54 million in equity provided by co-op members whose shares were valued at about $4.50 each and which are currently trading at between $7 and $8, Cox said.At a time of soaring world oil prices, IGPC’s sales of corn-based ethanol have been enjoying some "pretty good results," Cox said. "Prices are strong when you have gasoline at $1.30” a litre."We made a profit of $4.8 million in our first year, $12 .2 million in our second year, and profit for the first quarter of fiscal 2011 (Oct. 1 to Dec. 31, 2010) our profits were an additional $4.7 million," Cox said.At IGPC’s recent annual general meeting, CEO Jim Grey announced an approximately $5.3 million ($0.50 per share) distribution to existing shareholders. Additional financial results are available on IGPC’s website at www.igpc.ca. BF Risk management ... anyone? Contest celebrates all things Jersey
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