CGX Energy Inc V.OYL

General question regarding material information

[Kelvin]

A general definition for material information that I read is that it is information that would have the effect of moving the sp. But lots of info does that like intetest rates, exchange rates, inflation etc but that info is publicly available.

But material info only known to insiders is not public. As long as the insiders don't trade based on that matetial information do they have to disclose it publicly?

[soulfire]

But how do we know their buddies ae not trading on information?

[Kelvin]

Soulfire, I don't know if they are or not.

[soulfire]

I understand your point very well. However we know where there is money to be made no one will miss out on the opportunity, even these inept idiots. It happens, we just can't ptove it.

[Schreibzey]

Kevlin, here you go, some context: https://www.bcsc.bc.ca/-/media/PWS/Resources/Securities_Law/Policies/Policy5/51201_NP.pdf The way I figure, under 2.2 confidentiality, each party can file confidential disclosures that don't go public. Confidential is subjective IMO, to which all their buddies likely have folks surrounding this confidential filing, who also trade.  Seems like there is

[a2bman]

From TSX The Disclosure Rules state that material information is information about a company that has a significant effect, or would reasonably be expected to have a significant effect, on the market price of the company's securities. A company must disclose material information to the public immediately.

[Kelvin]

Boy that's pretty clear a2bman! So, now the issue becomes what information that meets that definition should be disclosed. I ask because the operational information is pretty much public, even though it's supposed to be tight hole. My retired company man friend commented that through his network he could probably even find out the serial numbers of all of the bits that they ran. But the

[Kelvin]

Thanks Schreibzey, Boy, now there's another thing that I have to learn about. Non-public confidential disclosures. I've never heard of them before.