GREY:GLKIF - Post by User
Comment by
OrsonModestoon May 17, 2016 2:44pm
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Post# 24882111
RE:RE:How much will they sell?
RE:RE:How much will they sell?
It is probably worth looking into the rules of trading halts since people seem to want to blame GLK for requesting a trading halt for the purchase order they announced. It doesnt matter that the purchase order was only 40 tonnes. Media releases issued by listed companies with material information are reviewed by IIROC surveillance staff before being released on the newswires or the companys website. If a news release is unclear or overly-promotional, IIROC may ask the company to revise it for clarification. Obviously, the IIROC viewed the trading halt request as material information, and thus granted the trading halt. GLK merely followed the disclosure rules. More info: 1. Every listed company on the TSX is responsible for having IIROC review its news releases prior to being disseminated over the news wires. 2. The nature of the announcement and the current status of events must also be disclosed to IIROC, so that IIROC can assess the need and timeframe for the trading halt. 3. A stock is generally halted pending the release of material news that may affect the price of a stock. A trading halt allows the market to digest this information and also creates a level playing field among investors.