Post by
dalesio_98 on Oct 30, 2023 11:22pm
Mellon Trust disposing of shares!
NI filing was submitted to sell up to and including 850,000 shares indiscriminately over a period of time up to a daily threshold (approx 27,000 shares). The principle also declared doing so without any knowledge of specific news, something to that effect.
If shares were disposed of early last week, the SEDI filing is or would be late.
Where I see a predicament, IMO, should no shares be disposed of daily or within a week or longer, that goes against the spirit of the NI filing committment.
Who calls the shots to hold off disposing of the shares? Certainly not Mellon Trust. That would leave the principle of the Trust.
Please feel free to provide input to this layman's opinion.
Good luck to all!
Comment by
tamaracktop on Oct 30, 2023 11:47pm
Seems to me you'd have a hard time finding a CEO who's audacious enough to sell his own shares in early days of a week when he obviously knows the company is going to voluntarily delist from a major exchange in the US. Who could be that stupid? Particularly when his actions are being investigated?
Comment by
dalesio_98 on Oct 31, 2023 12:20am
Do you actually think the optics is of concern to the principle? The NI filing is indiscriminate. The disposal of shares is out of the principles hands, n'est-ce pas? If you can willy nilly dispose of shares and back off, you don't need the NI filing, n'est-ce pas? Furthermore, there is a NCIB filed.
Comment by
wheelsonthebuss on Oct 31, 2023 7:11am
Looking on Canadian Insider Trading - it shows that Peter sold over 250K shares between Oct 3 and the 19th - Hummmmmm !!!!