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Sri Lanka Equity Forum » Stock Market Talk » Five employees of SMB Leasing, will be charged for insider dealing on the firm's stock

Five employees of SMB Leasing, will be charged for insider dealing on the firm's stock

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ishnet

ishnet
Manager - Equity Analytics
Manager - Equity Analytics
Sri Lanka SEC to charge five with securities fraud
Sept 28, 2011 (LBO) - Sri Lanka's Securities and Exchange Commission said five employees of SMB Leasing, will be charged for insider dealing on the firm's stock.
The SEC said the employees had bought shares ahead of a rights and warrant issue by the company.

Information on the rights issue had been made public on August 17.

An SEC probe had found that the five "had been privy to the unpublished price sensitive information pertaining to the Rights Issue of shares with attached warrants or at least regarding a new issue of shares relating to SMB at the time purchases," when they bought the stock.

The insider case is the latest in a series of actions as the SEC cracked down on widespread fraud and manipulation that had dented confidence.

The watchdog said on September 14 that it would take one broker to court for manipulating stock in construction firm and warned several others.

It also cracked down on Environmental Resources Investments, a firm that claimed to own platinum stock for misleading investors.
http://www.lbo.lk/fullstory.php?nid=21372291

cse.profit

cse.profit
Senior Equity Analytic
Senior Equity Analytic
hahaha...a very good initiative..at least now some warrant holders will be think about the intrinsic values before they investing. some of them even doesn't know that these warrants were given free and still paying 40 cents for a warrant worth nothing. God bless them.

@bakapandithay- thank you brother



Last edited by cse.profit on Tue Sep 27, 2011 10:40 pm; edited 1 time in total

SAGA


Senior Equity Analytic
Senior Equity Analytic
Administrator,
pl put this similar posts under one topic as i can see a similar post related to insider dealings(by Sandstorm) on this site.It will be easy for everybody

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
@cse.profit wrote:hahaha...a very good initiative..at least now some warrant holders will be think about the intrinsic values before they investing. some of them even doesn't know that these warrants were given free and still paying 40 cents for a warrant worth nothing. God bless them.

You said lot about SEMB W....., now only people realize that u r correct. Good prediction & anaysis Mr. cse.profit. weldone

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
GREAT news
Great work SEC. SEC has catch 5 employees.

මම ඇන්ටි එක්ක insider dealing කරනවා. පුලුවන් නම් මට නඩු දාපල්ලකෝ. ඔන්න නොකිව්වා කියලා කියන්න එපා මම කොටස් වෙලද පොලෙන් අයින් වෙනවා. මම හිතන් ඉන්නේ මම අයින් උනොත් කොටස් වෙලද පොල වහවි කියලා. SEC එකේ උබලත් එහෙම හිතපල්ලා. ලොල්

Felix

Felix
Stock Trader
This is the way to go. Go behind the manipulators, insider traders and ultimately you will clean up the CSE. After all this is not a casino. Market and economic basics should be the underline for a healthy stock exchange. Go SEC

jks


Equity Analytic
Equity Analytic
SEC Cant block investing money in any stock that is not worth.decision made by investor.dont blame others you very greed and become milliner in one night you should go casino to Stocks.

cse.profit

cse.profit
Senior Equity Analytic
Senior Equity Analytic
hmmm okay......time for another brain teaser............. so i get few messages regarding who are the culprits....and is doctor a victim....I said no to all of them.. and then they started asking me are you the DOCTOR.......hikz hikz.. ayyo waradila hari ehema wunanan koti prakoti pathiyek wenawane..hehehe.

I do not know about the 5 employees who got caught but 99% surely i can state that doctor senthil is not one of them. It is not a big deal . any one who was with this share in the past and any one who remembered past activity would know at what point doctor entered. he was smart. but their were some smarter people whom we do not see since their stake is not as big as doctors.

2010 - 2 quarter
http://www.cse.lk/cmt/upload_report_file/445_1281094894056.pdf

2010 - 3 quarter
http://www.cse.lk/cmt/upload_report_file/445_1289815546490.pdf

2010 - 4 quarter
http://www.cse.lk/cmt/upload_report_file/445_1298626723.pdf

so this summons up it all. so do your own analysis and check out the smarties....or in other words the real insider dealers......hehhe... Those poor 5 people might not be even in the list it seems.

okay so the SEC said the employees had bought shares ahead of a rights and warrant issue by the company. Information on the rights issue had been made public on August 17. An SEC probe had found that the five "had been privy to the unpublished price sensitive information pertaining to the Rights Issue of shares with attached warrants or at least regarding a new issue of shares relating to SMB at the time purchases," when they bought the stock.

okay forget about the small fish .....catch the smarties....so who are in the probable list of smarties if it was insider dealings....I mean the list i am going to reveal might not have accessed to insider dealing at all..so if so they are very very smart.

so the official rights issue was in august 17 as mentioned and it is in the middle of 2 nd and 3 rd quarters. so whoever had pure insider knowledge based on the above rights issue should enter in this time span and would reflect their position in the 3 rd quarterly statements. agreed...so shall we analyze the list of probable culprits.

actually seylan bank has been dumb enough to dilute thier stake from 24.85% to 10.45%. The largest single shareholder at that time Miss. G I Vasunthara who had 16,193,800 shares which was 3.64% of the total cap was not in the top 20 in the next quarter. Mr. A Sithampalam sold 3 million out of his 9 million.
so like wise you can see for your self who lost the chance of earning a fortune from their stake. but what we should look at for is the people who have come in.okay lets do the maths. new comers.

mr jayantha dewage - 10,073,500 shares 2.26% stake
Mr. T Elaythamby - 8,634,100 shares 1.94% stake
Mr. R Gautam - 6,163,000 shares 1.38% stake
Pan Asia Banking Co. PLC / Invest Copia Capital (Pvt) Ltd
- 5,000,100 shares 1.12% stake
Mr. W D J R Silva - 4,932,000 shares 1.11% stake
Pan Asia Banking Co. PLC / Emagwise (Pvt) Ltd ....hmmm here comes a famous kid. - 3,768,100 shares 0.85% stake

so i just analyzed up to 10 shareholders only since i have to get ready to go to nuwaraeliya for another family trip . after all you need to spend your money..hehehe. also i analyzed only the voting of the 3rd quarter. any one interested or if any one from the CID/sec can use this method to track down all the probable list of people. either the inside dealers or these people should be super smart to sense the uptrend. so any one interested can carry out the analysis to the voting ,non voting and up to 20 shareholders and then also do the same in the 4th quarter. In the 4 th quarter the calculation becomes bit tricky since the incorporation of rights in to the voting and non voting as well as brand new listing of warrants....go through you will find the answer.. doctor bought from the public. the public holding of the share reduced significantly from 99.98% to 76.12% and now you know who is responsible. and the timing is after the rights issue got finished and when the warrants were given first. so no doubt docor needs not to be afraid at all according to the above statement by sec....i am pretty sure sec would have caught few poor employees who had just few thousands or lax of shares....any way..isn't it a nice brain teaser....hehehe..
will not be able to reply for 2 days coz me on vacation.all the very best

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Wait, i will ask this from Jayantha Dewage's son.

cse.profit

cse.profit
Senior Equity Analytic
Senior Equity Analytic
@chamith- wow so that would be an awesome idea...but mind you read my topic.these are not the list of the insider dealers k...........so please refer to my note properly and do not make any false allegation to any of the gentlemen present here. as you and me they are also investors and their is nothing wrong in what they have done. but the fact remains that if their were any inside dealers present they should be among the list. May BE NO one was doing insider dealings and sec is just probably guessing out.. so give them due respect and all the others who read my post should understand what my logic is. all the very best. And by the way you are welcome to share your findings with us for us to have a better intellectual conversation.

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
cse.profit

Yes yes i do understand how u came up with this list. Anyway I know them and they are down to earth ppl. You wouldn't even believe.

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