RE:Still more buying by TABLOEljoro
Thank you for the heads-up on recent insider buying, (details shown below) posted at canadianinsider.com.
“May 3, 2016 to May 6, 2016, Tablo Corporation/Mr. David Mimran purchased an additional 2,881,335 shares of Teranga (TGZ) at share prices ranging between $0.999 and $1.05.”
There is one significant factor, to the share purchases mentioned above, that may have been overlooked by investors; I will attempt to explain, briefly.
The share purchases were made immediately after the insider blackout period ended – See below - Tablo Corporation/Mr. David Mimran, did not wait for the end of Q2 to make purchases, (keep in mind, end of Q2 marks the beginning of ‘another’ insider blackout period) therefore we must assume that Tablo Corporation/Mr. David Mimran is confident of share price appreciation and additional good news regarding Q2 operations.
TERANGA GOLD CORPORATION INSIDER TRADING POLICY 7. Guidelines
(1) No Trade and Blackout Periods for Officers, Directors and Employees
The period beginning at the end of each quarter and ending two Trading Days (as defined in section 6.1) following the date of public disclosure of the financial results for that quarter (or fiscal year) (a “No Trade Period”) is particularly sensitive, as officers, directors and certain employees may often possess Material Non-Public Information about the expected financial results for the quarter and year end.
Accordingly, to ensure compliance with this Policy and applicable securities laws, all directors, officers and employees shall refrain from any trading activities involving Securities of Teranga during No Trade Periods.
From time to time, Teranga may also institute additional trading restricted periods for directors, officers, selected employees and consultants and others because of the existence of Material Non-Public Information (a “Blackout Period”). In the event a Blackout Period or No-Trade Period is initiated, the Compliance Officer shall disseminate a notice to suspend trading in Teranga’s Securities, in the form attached hereto as Schedule “D”, or other approval form, instructing those people not to engage in any trading of Teranga’s Securities until further notice, without disclosing the facts giving rise to or the imposition of such suspension of trading.
Even outside of Blackout Periods or No Trade Periods, any person possessing Material Non-Public Information on Teranga should not engage in any transactions related to Teranga’s Securities until two Trading Days after such information has been publicly disclosed.
https://s1.q4cdn.com/851853033/files/doc_downloads/Corporate_Governance/2016/Insider-Trading-Policy-February-24-2016.pdf