Re: Blackout Periods
in response to
by
posted on
Aug 16, 2014 06:38PM
I encourage everyone to spend some time exploring POET's web site from time to time. It is updated with new information periodically that is not worthy of a news release to draw attention to it but still adds valuable knowledge to investors and answers questions that pop up here often.
For example, a new document covering POET's Security Trading Policy was posted a while ago (dated May 21, 2014 but I just noticed it a few weeks ago) that answers many questions that have been asked today such as, "Who are Blacked-out Personnel?" and "When are company personnel blacked-out for "regularly scheduled blackout periods"?" (10 days prior to until 24 hours after the release of quarterly and annual financials). It also defines "discretionary blackout periods", which is what company personnel are under right now according to Mr. Copetti.
By the way, that acknowledgement alone that they are actually under a trading blackout is a violation of section 3.4 of the policy.
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"3.4 No Trading During Blackout Periods – No Company Personnel who are “Blacked Out Personnel” (as defined below) should trade in Company securities including the exercise of stock options during any “regularly scheduled blackout period” or “discretionary blackout period” (defined below) that the Disclosure Committee may designate and which will be communicated promptly on designation, generally by e-mail or other manner as appropriate in the circumstances. No Company Personnel should disclose to any persons that are not Company Personnel that a discretionary blackout period has been designated."
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In this case, I think we can give Mr. Copetti the benefit of the doubt and assume he applied section 5.3 of the policy prior to divulging the information and determined that there was no need to apply section 4.1 at this time. ;) (I'm not going to explain this one... look it up!)
http://www.poet-technologies.com/wp-content/uploads/2013/07/Securities-Trading-Policy-21May2014.pdf
Anyway, hope this answers some questions.
Keep one eye on the web site.
Green