Post by
Pinegrove on Apr 24, 2023 9:53am
From Sandy this morning
Just wanted to confirm & reaffirm WRN's response to Paul not buying back in yet. See Sandy's response below from this morning.
Hi Dan,
Apologies, I did not receive your first email. You’re correct, Paul’s selling was done in preparation for a large option exercise in addition to tax planning, after which he will have more shares than he started with.
Important to note that directors, officers, consultants or employees are prohibited by securities laws from purchasing or selling the Company’s securities while having access to undisclosed material information about the Company. Material information is generally regarded as material if there is a reasonable likelihood that it would be considered important to an investor in making an investment decision regarding the purchase or sale of the Company’s securities. Section E of the Insider Trading Policy defines when a suspension of trading is put in place, recent examples of this would include the Mitsubishi strategic investment and quarterly reporting.
Thanks,
Sandy
Comment by
MetalMinded on Apr 24, 2023 10:14am
Thanks Pine. That makes sense and it's not as nefarious as some posters on this board painted it to be.
Comment by
Pinegrove on Apr 24, 2023 10:55am
True. And perhaps something else can be assumed. It's been a few weeks since the Mitsubishi announcement and Paul still hasn't done anything. Perhaps he's right back into a situation where due to forthcoming news he's back in a situation where he can't trade due to insider concerns. Just a thought.
Comment by
jclarke042 on Apr 24, 2023 11:01am
Exactly why I don't begrudge the lack of insider buying.