American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.800

0.0%

Dec 19 3:59 PM EST

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To: Peter H. Mack who wrote (2256)	3/25/1998 4:13:00 PM
From: david james	Read Replies (1) of 2841

Well, from what IR says, McGinnis got a margin call a couple weeks ago on the stock he owns (285,000 shares or something like that). He didn't want to sell any of that, so he converted some options to cover his account. That filing to convert (a 144) just appeared on Edgars, so it probably created some selling pressure. Interesting that McGinnis and Norris decided it would be best to refuse their bonuses, but the margin call forced him to convert some options to cover his holdings. I think I would have preferred that he take his bonus and cover his margin that way. But I guess he didn't expect the fall of the stock. Just like I didn't. Norris as COO - hmmm. Maybe something to be announced soon from Eco. David

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