Truck News


Mullen’s major shareholder to sell stock

ALDERYSYDE, Alta. -- It's the end of an era at Mullen Transportation, as the company's founder and major shareholde...

ALDERYSYDE, Alta. — It’s the end of an era at Mullen Transportation, as the company’s founder and major shareholder has announced plans to sell of up to one million shares.

Roland Mullen will still be the company’s major shareholder, maintaining 1,920,000 shares, or 13 per cent of the issued capital. The stocks will be available on the Toronto Stock Exchange under the symbol MTL after all the regulatory approvals are made.

Mullen started the trucking company in 1949 and has guided it through its growth since then. He plans to retire from the Board of Directors in 2003 and has said that his decision to sell off a significant chunk of his investment is consistent with his long-term estate planning objectives.

“When we took this Company public in 1993 I knew there would come a timeto step down. That was part of the decision process,” says Mullen. “Mullen has just finished another great year, is debt free and from my point
of view the Company has a very bright future.”

Truck News

Truck News

Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.
All posts by

Print this page
Related Articles

Have your say:

Your email address will not be published. Required fields are marked *