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Fortress Global Enterprises Inc - Class A FTPLF

Fortress Global Enterprises Inc produces paper pulp, security papers, and other security-related products. The company through its segments produces dissolving pulp which is primarily used for viscose/rayon manufacturers in Asia. Its business is spread across Asia where it generates most of its revenues, Europe, Canada, and International.


GREY:FTPLF - Post by User

Comment by OptsyEagleon Jan 24, 2012 3:59pm
178 Views
Post# 19443535

RE: Black-listed

RE: Black-listed

In CIBC panel discussions, Chad said he was "black-listed", referencing the 20% of shares he owned. Anyone know what he's referring too ? Is he presently prevented from buying/selling FTP shares ?

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Yes.  Insiders are prevented from buying or selling stock within a certain time frame of material events.  Material events include the release of earnings but in this case, acquisitions of new mills.  I think what he was saying is that since Fortress Paper has been in a position, where it was possible to that they could consumate a new acquisition at any time, within the last couple of years, he therefore has been prevented from trading in the company stock, over that entire time period.  The term for this is called "black-listed".

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