Pyrogenesis Canada Inc T.PYR

This board of Directors can't be beat

[tamaracktop]

In response to TOCKY's request that I post the trades I mentioned, I must confess I don't know how to cut and paste from SEDI on Stockhouse.

I'm not one of the tech-savy generation.

Maybe Dalesio can help me here.

I wouldn't expect any help from the irrational pumpers here in putting forth an argument with negative implications.

I'll add that TOCKY reminded me of an incident I found bizzare at the time.

Read this press-release, paying particular attention to the bolded portion.
 

TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG), has terminated, effective today, the automatic securities disposition plan (“ASDP”) under 
PyroGenesis Announces Termination of Automatic Securities Disposition Plan

 

T.PYR | September 9, 2022

MONTREAL, Sept. 09, 2022 (GLOBE NEWSWIRE)

"-- P. Peter Pascali, President and Chief Executive Officer of PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a high-tech company .....

On August 18, 2022, Mr. Pascali filed a notice of intention to distribute securities (Form 45-102F1) under the SEDAR profile of PyroGenesis at www.sedar.com, through which he announced his intention of selling, on the Toronto Stock Exchange (the “TSX”), up to 800,000 of the 4,904,657 Common Shares (the “Proposed Disposition”) owned by Fiducie de Crdit Mellon Trust, a trust of which he is a trustee, executive officer and beneficiary (the “Trust”). On the same date, the Trust and PyroGenesis entered into an ASDP with an independent broker, who was appointed to effect the sales to be made under the Proposed Disposition between August 25, 2022 and September 16, 2022.

On September 8, 2022, Mr. Pascali and PyroGenesis notified the broker of their decision to terminate the ASDP. The decision was taken in order to avoid the possible situation wherein, in accordance with the trading parameters set out in the ASDP, the sale of a large number of Common Shares would be made in a short period of time. The Board of Directors of the Company approved the termination of the ASDP, as it is believed to be in the best interest of the shareholders of PyroGenesis. The termination was made at a moment in time when Mr. Pascali/the Trust represented not being aware of or in possession of any privileged information or material non-public or undisclosed information about PyroGenesis or any securities of PyroGenesis."
 

 

I actually had to read that twice at the time to make sure I understood it properly.

This board must have deliberated for quite some time before deciding that the CEO's selling of "up to 800,000" shares in a short period of time wouldn't be in the shareholders' best interests.

This board is worth every penny.

They "terminated" it after it had already been in effect for 3 weeks.

I'm not sure why the company saw fit to issue a press release to announce the termination of an ADSP.

They've never issued a press release to announce that he's initiated one.