Gregory M. Shepard, associate activist capitalist who’s been a serious shareowner of Pennsylvania-based Donegal cluster and a frequent critic of the corporate, has oversubscribed his shares to the corporate weekday, in keeping with securities filings.
Shepard’s stake consisted of three.675 million shares of Donegal cluster category a typical stock and four hundred,000 shares of Donegal cluster category B stock — that along created up nearly ten p.c of the choice power in Donegal cluster. He oversubscribed all of his shares to Donegal cluster and Donegal Mutual underwriter for about $70.04 million.
Shepard has been a Donegal cluster shareowner since 2005 and was Donegal’s largest stockholder with the exception of Donegal Mutual, the holder of majority choice management of Donegal cluster.
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