I see that an IOC director sold 30,000 shares, 93% of his holdings, in the public market, at $63.8593, on March 5, 2010 for proceeds of $1,915,779.
Pleaes verify for yourself at www.sedi.ca
Insider name: SPEAL, EDWARD NICHOLAS
1591247 2010-03-05 2010-03-08 Direct Ownership :
10 - Acquisition or disposition in the public market -30,000 63.8593 USD 2,300 2,300
Thank you for the link. It works.
Yes. Mr Speal did sell 30,000 shares of IOC on 3-3-10. He now has 2,300 shares left.
Puzzling. Very puzzling. To me it is like a fly in ointment because I have been and am bullish for IOC.
Further research showed there is something in forbes.com about Mr. Edward N. Speal but I could not access it.
It appears that Mr Speal is President and CEO of PNB Paribas, a French megabank.
The best reasoning I can come up with is that PNB Paribas may be a potential lender for IOC and Mr Speal sold his shares to avoid conflict of interest.
People sell their stocks for various reasons, including the 3 Ds- Divorce, Disability and Death. There are a multitude of others, unrelated to one's belief in the future of the company/stock!Too often, people waste too much time speculating on its relevance to the company's prospects , when quite often it is totally unrelated to the company.
Your link doesn't work, here is what to do:
2) top right click "Access Public Filings"
3) on left click "View Summary Reports"
4) Click "Insider Transaction Detail" and then "Next"
5) Under "Idenntify insider or issuer" select "Insider Family Name"
6) Type "Speal" and hit Enter
7) Click "View" on the left by his name
8) Search the page for "2010"