Canadian Governor General David Johnston – CAI Private Equity Group – MacDonald, Dettwiler and Associates – Matrix 5 Joint Venture – JonBenét Ramsey
May 8, 2011
Dear Prime Minister Harper:
Can Governor General Johnston say if Matrix 5 took out JonBenét?
Abel Danger believes that in the early 1990’s, Canadian Governor General David Johnston organized his CAI Private Equity Group and MacDonald, Dettwiler and Associates into a Matrix 5 joint venture to move hit teams around the world, one of the first of whose victims was JonBenét Ramsey and more recently, a man alleged to be Osama bin Laden by one of David Johnston’s former protégés at Harvard University – Barack Hussein Obama.
“MacDonald, Dettwiler and Associates Ltd. Divestiture of a Non-Core Operation Co-Investment Opportunities Public Market Exit Based in Richmond, British Columbia, MDA is an information company that provides essential land-related information from anywhere in the world to help governments and businesses make decisions. Through its Information Systems group, MDA builds and manages complex systems that capture, package and distribute essential information to help governments and businesses manage their land and mobile assets around the world. Through its Information Products group, MDA develops and manages essential land information databases to enable legal, financial and insurance businesses execute real estate transactions, and also collects and distributes geographical information products to governments and businesses.
CAI’s relationship with MDA dates back to the early 1990’s when, in 1994, CAI [allegedly led by CAI Special Investors David Johnston and Jalynn Bennett] and MDA held discussions regarding a potential acquisition of MDA by CAI. However, in 1995, MDA was subsequently sold to US-based Orbital Sciences Corporation. Nevertheless, for years following the sale of MDA to Orbital, CAI continued to explore potential investment opportunities with MDA, both as a potential partner and a prospective shareholder. In late 1999, Orbital began experiencing significant liquidity problems unrelated to MDA and was evaluating strategic alternatives to raise cash, including the sale of certain non-core assets, one of which was MDA. Due to CAI’s existing familiarity with MDA and its business, CAI became management’s preferred and exclusive partner to pursue and negotiate a transaction with Orbital that would satisfy Orbital’s very tight time constraints. Consequently, in December 1999, CAI and one of its limited partners together acquired a 33.3% equity position in MDA from Orbital. Because of CAI’s minority position and Orbital’s difficult financial condition, CAI negotiated a shareholders’ agreement with Orbital that gave CAI control over certain key issues that, from CAI’s perspective, were critical to the prudent management of its investment. For example, to protect its exit alternatives, CAI negotiated the ability to force an initial public offering of MDA’s shares and to control the IPO process. The shareholders agreement also restricted Orbital’s ability to sell its shares to third parties without the effective consent of CAI. In July 2000, at CAI’s direction, MDA completed an initial public offering of its shares at a significant premium to the CAI’s purchase price. As part of the IPO process, CAI also moved to improve corporate governance by strengthening MDA’s board of directors. In late 2000, faced with continued liquidity constraints, Orbital communicated to CAI its desire to sell its remaining shares in MDA. Shortly thereafter, CAI exercised its rights under the shareholders’ agreement to facilitate the placement of Orbital’s control block with selected like-minded investors of CAI’s choosing. This allowed CAI to offer an attractive co-investment opportunity to its investors (initially) and to third parties (subsequently), while ensuring a high degree of continuity in the financial and strategic stewardship of the business. Altogether, over $230 million of MDA shares were placed by CAI with co-investors at discounts to prevailing market prices in excess of 25%. Through subsequent public offerings of common shares and open market transactions, CAI sold its entire position in MDA from July 2000 through January 2004 at valuation multiples in excess of its original purchase price multiple. During CAI’s investment period (1999-2003), MDA also prospered, increasing sales from $298 million to $626 million (a 110% increase) EBITDA from $42.3 million to $100.2 million (a 137% increase) through a combination of successful acquisitions and internal growth strategies. While CAI may not have had a controlling equity interest in MDA, CAI’s active involvement and financial sponsorship enabled MDA to free itself from a cash-constrained foreign parent and pursue a strategy of profitable growth that ultimately generated attractive returns for CAI, management and co-investors.”
Your counter-intelligence people may be out of their depth; please don’t hesitate to call.