WI LAN .IN THE (((((((NEWS)))))))Wi-LAN Inc - In the News
Post says Wi-LAN's Zaghlouls have their distractions
Wi-LAN Inc WIN
Shares issued 22,220,472 2001-02-23 close $6.68
Monday Feb 26 2001 In the News
Also Clarity Telecom Networking Inc (CTW)
The National Post reports in it Saturday edition that even before Nortel Networks Corp. triggered a further slide in tech stocks, Wi-LAN management was taking a lot of heat from investors for its failure to deliver on promises for growth of the wireless-equipment maker. The Post's Scott Adams writes that those critics may be even more troubled to learn that chief executive Hatim Zaghloul has been busy over the past nine months creating new penny-stock companies in which he and his brothers are involved. Peter Hodson, portfolio manager at Synergy Asset Management, said anything that distracts management from its core operational goals "has to be detrimental." In one deal, Wi-LAN sold its 70-per-cent interest in E-Nerves Inc. to a penny-stock company called NTG International Inc. without issuing a press release about the matter. The Zaghloul's penny-stock trail starts with a shell company called Clarity Telecom Networks, of which the brothers are both directors. In its prospectus, Clarity said it would buy NTG International, a private company controlled by the Zaghlouls.
(c) Copyright 2001 Canjex Publishing Ltd. https://www.canada-stockwatch.com
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