Post by
robnhood on Feb 25, 2014 8:51am
This doesn't sound good
HRT OIL (HRTP-NM) - separate negotiation HRT OIL (HRTP-NM) - separate negotiation
Given that (a) since 12.23.2013, the Board of Directors of the Company did not have the minimum number of members, of which 20% shall be independent members, in breach of the obligation set out in item 4.3. the Listing Rules of the Novo Mercado, and (b) on 2/24/2014 it ran period granted by BM & FBOVESPA for solution of the breach, failing which application of non pecuniary sanctions, the quotation of shares issued by this Company will be disclosed separately under the title of Others, from the preaching of 26/02/2014, due to the maintenance of the breach of obligation mentioned.
Comment by
Bosslady on Feb 25, 2014 9:58am
Not sure what this means but I think it says that after Feb 26th any of the big shareholders can purchase shares and it will be listed as Other and not disclosed if they surpass their so called allowed percentage points? If not please clarify for the rest of us . If that is the case there should be heavy buying coming one would think?
Comment by
robnhood on Feb 25, 2014 11:05am
I don't really understand what it means, but I thought that it meant some type of delisting.
Comment by
landmann on Feb 25, 2014 11:59am
Don't see this procedure in the Novo Mercado rules, which seem to require a suspension of trading for such infractions: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CCQQFjAA&url=http%3A%2F%2Fwww.bmfbovespa.com.br%2Fen-us%2Fmarkets%2Fdownload%2Fregulamento.pdf&ei=wMkMU6-8CYOcyQHcsYCYDA&usg=AFQjCNHmibmbfPkAn0f0t3kwaqWxH_NaMg
Comment by
landmann on Feb 25, 2014 12:16pm
Better link to Novo Mercado: https://www.bmfbovespa.com.br/en-us/markets/equities/companies/corporate-governance.aspx?Idioma=en-us
Comment by
robnhood on Feb 25, 2014 2:27pm
What I could find out---- "According to information obtained from Bovespa and brokerages to "separate negotiation" is just an internal classification of Bovespa and not alter the trading action. "
Comment by
robnhood on Feb 26, 2014 8:07am
There is a black eye--- the bid/ask no longer show on Bovespa-- last sale and volume still show.
Comment by
robnhood on Feb 26, 2014 8:08am
Oops, spoke too soon. Everything seems to be working now.