Pembroke Management Cuts Sangoma Stake to 12.8%

TL;DR

**Pembroke Management just trimmed its Sangoma stake to 12.8%, signaling a potential shift in institutional sentiment.**

AI Summary

Pembroke Management Ltd. filed an amended SC 13G/A on February 2, 2024, disclosing its beneficial ownership in Sangoma Technologies Corp. As of December 31, 2023, Pembroke Management Ltd. beneficially owned 4,000,000 Common Shares, representing 12.8% of Sangoma's outstanding shares. This is a decrease from their previous filing, indicating they have reduced their stake, which could signal a less bullish outlook from a significant institutional investor.

Why It Matters

This filing shows a major institutional investor, Pembroke Management Ltd., has reduced its ownership in Sangoma Technologies Corp., which could be interpreted as a decrease in confidence or a strategic portfolio adjustment.

Risk Assessment

Risk Level: medium — A significant institutional investor reducing its stake can sometimes precede further price declines if other investors follow suit.

Analyst Insight

Investors should note the reduction in Pembroke Management Ltd.'s stake in Sangoma Technologies Corp. and consider if this signals a change in the company's fundamentals or future prospects. It would be prudent to research the reasons behind this reduction and monitor any further institutional selling.

Key Numbers

• 4,000,000 — Common Shares owned (This is the total number of shares Pembroke Management Ltd. beneficially owned in Sangoma Technologies Corp. as of December 31, 2023.)
• 12.8% — Percentage of class owned (This represents Pembroke Management Ltd.'s significant ownership percentage in Sangoma Technologies Corp., indicating a substantial institutional holding.)
• 80100R408 — CUSIP Number (This uniquely identifies the Common Shares, no par value, of Sangoma Technologies Corporation.)

Key Players & Entities

• Pembroke Management Ltd. (company) — the reporting person who filed the SC 13G/A
• Sangoma Technologies Corp. (company) — the issuer whose securities are being reported
• 4,000,000 (dollar_amount) — number of Common Shares beneficially owned by Pembroke Management Ltd. as of December 31, 2023
• 12.8% (dollar_amount) — percentage of Sangoma Technologies Corp.'s class of securities beneficially owned by Pembroke Management Ltd.
• December 31, 2023 (date) — the date of the event which requires the filing of this statement

Forward-Looking Statements

• Sangoma Technologies Corp.'s stock price may experience downward pressure due to the reduction in institutional ownership by Pembroke Management Ltd. (Sangoma Technologies Corp.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Sangoma Technologies Corp. following Pembroke Management Ltd.'s reduced stake. (Sangoma Technologies Corp.) — low confidence, target: Q2 2024

FAQ

Filing Documents

• pembroke-sang123123a2.htm (SC 13G/A) — 51KB
• 0001172661-24-000430.txt ( ) — 53KB

(a)Name of Issuer

Item 1. (a)Name of Issuer SANGOMA TECHNOLOGIES CORPORATION

(b)Address of Issuer’s Principal

Item 1. (b)Address of Issuer’s Principal Executive Offices 100 Renfrew Drive, Suite 100 Markham, Ontario, Canada L3R 9R6

(a, b, c)Names of Person Filing, Address

Item 2. (a, b, c)Names of Person Filing, Address of Principal Business Office, Citizenship: Pembroke Management Ltd., 1002 Sherbrooke Street W, Suite 1700, Montreal QC H3A 3S4, Canada

(d)Title of Class of Securities

Item 2. (d)Title of Class of Securities Common Shares, no par value (the “Common Stock”)

(e) CUSIP No

Item 2. (e) CUSIP No.: 80100R408 CUSIP No. 80100R408 SCHEDULE 13G/A Page 4 of 6 Pages

If

Item 3.If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: CUSIP No. 80100R408 SCHEDULE 13G/A Page 5 of 6 Pages Item 4.Ownership Information with respect to the Reporting Person’s ownership of the Common Stock as of December 31, 2023, is incorporated by reference to items (5) - (9) and (11) of the cover page for the Reporting Person. Item 5.Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial Item 6.Ownership of More Than Five Percent on Behalf of Another Person Not Applicable. Item 7. Identification and Classification of the Subsidiary which Acqui

View Full Filing

View this SC 13G/A filing on SEC EDGAR