Dartmouth, Nova Scotia — On Nov. 3, Rob Steele, CEO of Atlantic Canada-based Steele Auto Group, announced that he had donated 17,391 common shares of AutoCanada Inc. to a Canadian registered charity.
The 17,391 shares represent approximately 0.06 percent of AutoCanada’s outstanding shares.
The donation reduces Steele’s control of the company from 10.04 percent to below 10 percent of outstanding AutoCanada shares. Subject to the regulatory limitations, Steele may increase or decrease his direct or indirect ownership, control or direction over shares of AutoCanada in the normal course of his investment activities, according to an online press release.
Steele’s donation is part of a $2 million gift in support of the charity. The company did not name the recipient charity.
