Securities Council orders shareholder in CGX subsidiary to desist from trading shares
The Guyana Securities Council (GSC) has once again taken aim at a shareholder in ON Energy Inc, a subsidiary of Canadian Oil Company CGX Inc. CGX has been engaged in oil search operations locally since 2000
In a notice in yesterday’s Stabroek News under the signature of Corporate Secretary Shaun O. Allicock, the GSC ordered GGC Resources, a shareholder in ON Energy Inc to “immediately cease and desist from trading or transferring the 63,810,000 shares held in its name, of ON Energy Inc. a registered reporting issuer of GSC.”
Last month in a similar notice the GSC had announced that as part of its due diligence it is seeking any information the public may have on the company `GGC Resources Inc’ operating from the address 505 Park Avenue – 9th Floor, New York N.Y., 10022, USA. The GSC said that the company is a 30.11% shareholder of ON Energy Inc…..