Daylight insider trading

Jump to main navigation Jump to main content. Last updated Thursday, Aug. The chief executive officer of Sinopec Daylight Energy Ltd. Daylight was acquired by Sinopec in December, , and has been renamed Sinopec Daylight Energy Ltd. Lambert continues to serve as president and CEO after the takeover. The firm is wholly owned by the Chinese company and its shares do not trade publicly.

Daylight had also previously received other expressions of interest from parties about transactions which had not proceeded. Although he said he did not buy shares because of the approach from Sinopec, Mr.

He also agreed it would have been prudent to ask his general counsel again on Aug. By that point, Daylight had replied to Sinopec that it was interested in holding talks.

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Lambert did not believe the initial approach from Sinopec was material information at the time because similar approaches had been made by others in the past. ASC chairman Bill Rice said in a release Thursday it is important for senior company officials to understand they cannot trade while in possession of material undisclosed information, even if it is information that the company is not yet obliged at that point to disclose to the public.

Follow Janet McFarland on Twitter: CEO of Sinopec Daylight accused of illegal trades. Looking back, new state-owned enterprise takeover rules would have blocked few deals. Discover content from The Globe and Mail that you might otherwise not have come across.

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Sinopec Daylight CEO settles ASC case of illegal trades - The Globe and Mail

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Selected data supplied by Thomson Reuters. Sinopec Daylight CEO settles ASC case of illegal trades Add to Comments Share via email Share on facebook Share on twitter Share on LinkedIn Print License article. President Hu Jintao warned China's incoming leaders on Thursday that corruption threatened the ruling Communist Party and the state, but said the party must stay in charge as it battles growing social unrest REUTERS Market View Video: China gets boost as new leader prepares to take over.

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