Insiders (>10%) & Control (>20%)people seem to think his involvement is bad news looks like he hasbought quite a few shares. What does control or direction mean?
ziggy19,
https://www.tmx.com/en/listings/venture_issuer_resources/finance_manual.html
Read the above PDF if you want further information.
Insiders also include an investor that owns > 10%.
Policy 3.1Directors, Officers, Other Insiders & Personnel and Corporate Governance
“Insider” if used in relation to an Issuer means:
...
(iv) A Person that beneficially owns or control, directly or indirectly, Voting Shares carrying more than 10% of the voting rights attached to all outstanding Voting Shares of the Issuer; or"
Control refers to investors that own > 20%. Many funds will stop buying before the 20% level for various reasons (largely due to more regulatory requirements).
"“Change of Control” includes situations where after giving effect to the contemplated
transaction and as a result of such transaction:
...
In the absence of
evidence to the contrary, any Person or combination of Persons acting in concert by virtue of an
agreement, arrangement, commitment or understanding, holding more than 20% of the Voting
Shares of the Issuer or Resulting Issuer is deemed to materially affect the control of the Issuer or
Resulting Issuer.
...
“Control Person” means any Person that holds or is one of a combination of Persons that holds
a sufficient number of any of the securities of an Issuer so as to affect materially the control of
that Issuer, or that holds more than 20% of the outstanding Voting Shares of an Issuer except
where there is evidence showing that the holder of those securities does not materially affect the
control of the Issuer.