CEO In buying modeSilvercorp Metals Inc (C-SVM) - In the News
Globe says Silvercorp CEO adds to holdings
2011-09-12 09:07 ET - In the News
Shares issued 175,060,904
SVM Close 2011-09-09 C$ 8.39
The Globe and Mail reports in its Saturday edition that when fraud allegations hit Sino-Forest, the company imposed a trading ban on its executives. Globe columnist Ted Dixon writes that whatever the legal merits of the move, it deprived investors the opportunity to see if executives were willing to put their money where their mouth was. China-focused Silvercorp Metals, which has vigorously denied recent anonymous allegations of impropriety, is taking a different path. On Tuesday, chief executive officer Rui Feng bought 100,000 shares at $7.87 (U.S.). Rui Feng now owns 3,854,500 shares on a direct ownership basis. Silvercorp closed Friday at $8.39, down 52 cents on the Toronto Stock Exchange.