Following the news today that Mark Kesselman has resigned his director's position at Ecometals (EC.v) because he got caught inside trading, frontrunning bad news and late filing his scumball work.......
......we here at IKN can only assume that Keith Robert Hulley, non-executive chairman of Ecometals will also tender his resignation immediately. As we mentioned back in February Hulley was caught doing exactly the same thing as Kesselman, namely inside trading, frontrunning bad news and late filing his scumball work. Here's an extract from that Feb 4th post:
This humble scribe further notes that not only did Hulley's actions directly contravene regulatory filings rules and regulations, but they also directly contravened Ecometals own rules as laid out in its 'Timely Disclosure, Confidentiality and Insider Trading Policy' document that you, dear reader, can find linked right here. This is the extract that explains all:
So now we have a clear policy at Ecometals of the board weeding out its bad seeds, following the rules of the OSC/BCSC and its own internal ethics standards, it can only be a matter of hours before Hulley does the right thing and resigns. DYODD.
It has come to the Board's notice that on June 22nd one of its Directors, Mark Kesselman, received a Cease Trade Order from the British Columbia Securities Commission for failing to file insider reports in respect of changes in his beneficial ownership of the Company's securities within the prescribed time. The Company was provided yesterday with a copy of a Revocation order from the BCSC in respect of that Cease Trade Order consequent upon Mr Kesselman filing in the intervening time the required insider reports. As a result of the above, Mr Kesselman has offered his resignation as a Director of the Company which the Board has accepted.
......we here at IKN can only assume that Keith Robert Hulley, non-executive chairman of Ecometals will also tender his resignation immediately. As we mentioned back in February Hulley was caught doing exactly the same thing as Kesselman, namely inside trading, frontrunning bad news and late filing his scumball work. Here's an extract from that Feb 4th post:
"Yep that right: Between December 23rd and December 30th when the rest of you were gleefully buying EC.v and whacking it up to over a buck on the BS being vomited about Zarza, the man that knows more about this company than anybody else was selling. And selling to the tune of 252,400 shares for gross proceeds of $374,881...and seven cents. It's bad enough that the stock he sold is now worth $175k less than he did when he sold it, but to add insult to injury he sells it in the last week of 2009 and doesn't even bother about telling anyone, saving the late filing for a full two months after the fact (Feb 3rd) and thumbing his pig-greedy nose at the OSC into the bargain." continues here
This humble scribe further notes that not only did Hulley's actions directly contravene regulatory filings rules and regulations, but they also directly contravened Ecometals own rules as laid out in its 'Timely Disclosure, Confidentiality and Insider Trading Policy' document that you, dear reader, can find linked right here. This is the extract that explains all:
16. Insider Reports
16.1 An Insider of the Company is required to file an initial insider report within ten (10)
days of becoming an Insider and subsequent insider reports within ten (10) days
following any trade of securities of the Company
So now we have a clear policy at Ecometals of the board weeding out its bad seeds, following the rules of the OSC/BCSC and its own internal ethics standards, it can only be a matter of hours before Hulley does the right thing and resigns. DYODD.
