Decision CRTC 2001-601
Ottawa, 21 September 2001
Mr. Donald L. Stinson
Bluewater TV Cable Ltd.
R.R. 2
Clinton, Ontario
N0M 1L0
Dear Sir:
Re: Application No. 2001-0810-2- Approved
Transfer of shares - Bluewater TV Cable Ltd. requests authority to transfer 3,360 common shares (30.55%) of the issued and outstanding shares of Bluewater TV, licensee of cable distribution undertaking serving Clinton and Goderich, Ontario.
Dear Sir:
The Commission approves the above-noted application requesting authority to effect a change in the ownership of Bluewater TV Cable Ltd. (Bluewater TV), through the transfer of 3,360 common shares from Richard Dale Evoy to Timothy Stinson. Following the transaction Timothy Stinson will have a 42.73% voting interest in the company. The Stinson family will still have legal control of Bluewater TV.
The Commission notes that the share transfers occurred without its prior approval. Consequently, the Commission reminds the licensee that compliance with subsection 4 (4) of the Broadcasting Distribution Regulations is required at all times, which states that a licensee must obtain prior approval of the Commission in respect of any transaction that directly or indirectly would result in a change in the effective control of its undertaking or a person owning more than 30 or 50 per cent of the voting interests of a licensee.
The Commission will modify its ownership records to reflect the authorized ownership of Bluewater TV as shown in the attached appendix. All letters of approval issued by the Commission are made available for public examination at the Commission's central office. Consequently, the Commission also requires you to append this letter to your licence.
Yours sincerely,
Ursula Menke
Secretary General
Att.
APPENDIX
Bluewater TV Cable Ltd.
|
Shareholder
|
Type
|
# held
|
% of vote
|
|
|
|
|
|
Stinson Enterprises Inc.
|
common
|
4,624
|
42.04%
|
|
Donald L. Stinson*
|
common
|
1,576
|
14.33%
|
|
Timothy Stinson*
|
common
|
4,700
|
42.73%
|
|
Derek Stinson*
|
common
|
100
|
0.90%
|
|
|
Total
|
11,000
|
100.0
|
Stinson Enterprises Inc.
|
Shareholder
|
Type
|
# held
|
% of vote
|
|
|
|
|
|
|
Donald L. Stinson*
|
common
|
55
|
55%
|
|
Stinson Family Trust
|
common
|
15
|
15%
|
|
Timothy Stinson*
|
common
|
14
|
14%
|
|
Derek Stinson*
|
common
|
1
|
1%
|
|
Diane Stinson*
|
common
|
15
|
15%
|
|
|
Total
|
100
|
100.0
|
* Canadian citizens ordinarily resident in Canada.
Date Modified: 2001-09-21
|