IDC shares for sale

Dutch private holding company Magito B.V. says it will be selling its just over 6% piece (2.7 million International%20Broadcasting%20Logo.jpgcommon shares) of satellite services company International Datacasting Corporation. The shares are part of IDC’s 2005, $5.3 million acquisition of Dutch networking equipment company PROFline B.V., of which Magito was a shareholder. “Although we do not think that any sale of Magito's interest in IDC will necessarily have an impact on our share price, in the interest of full disclosure we wanted to make sure that investors were aware that a large volume trade or series of trades in our shares may occur over the next 14 days,” says IDC’s CEO Ron Clifton. The company says the stock is being sold “for personal reasons of Magito B.V.'s principal shareholder.” Offered for $.80 cents each, the shares comprise almost all of Magito’s holdings in IDC.

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