Ken - what would you expect them to say???
CLE
Shares issued 9,400,027 Oct 22 close $1.35
Thu 24 Oct 96 In the News
David Baines says in the Thursday edition of The Vancouver Sun that on Tuesday, VSE officials halted trading in Cancall Cellular Communications, 42 days after his column raised serious concerns about the company. On September 26, Mr Baines noted that Cancall's stock had quadrupled to $2.34 on the basis of preposterous financial projections for its cellular phone rental business. Within four years, the annual net profit was to rise to $44 million. Mr Baines noted that the stock was being highly recommended by McDermid St Lawrence broker Trevor Kidd, whose sister Tracy had coincidentally been hired by the company to provide investor relations services. Mr Baines also noted that Gary Campbell, who was listed asCancall's chief executive in the company's promotional literature, had resigned from the Law Society of BC in 1991 after he ran into disciplinary problems. On Tuesday, 2.8 million shares after these observations were published, the VSE halted trading. VSE surveillance manager Angela Huxhamsays the exchange is questioning the apparently undisclosed role of Mr Campbell.
Cancall Cellular Communications Inc - Cease Trade Company
Cancall Cellular Communications Inc CLE
Shares issued 9,400,027 Oct 22 close $1.35
Fri 25 Oct 96 Cease Trade Company
Further to the VSE notice dated October 22 1996 (Stockwatch, October 23), effective at the close of trading October 25 1996, trading in the shares of the company will be suspended pursuant to Rule C.1.05. The exchange is conducting a review of the company's affairs which includes the following:
Company management; Promotional and investor relations activity;
Future oriented financial information contained in the company's disclosure; Material documentation not filed with the exchange; and Clarification of certain expense items. |
