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News Release

Securities Commission Releases Batha Decision

  • Date:

    1995-09-08

  • Number:

    95/22

Released: September 1, 1995  Contact: Ron Messent  660-4800 or 1-800-373-6393

The British Columbia Securities Commission has prohibited Batha Capital Corporation, J-H-R Investments Ltd. and John Henry Rempel, aka John Dyck, from participating in the securities markets for 10 years as a result of their involvement in an illegal distribution of Batha securities.

The prohibition is one of several regulatory penalties announced today in a decision by the Commission following a hearing in April 1995, into the affairs of Batha and J-H-R Investments and the conduct of Rempel.

In addition to withdrawing the respondents trading privileges for 10 years, the Commission ordered the respondents to pay an administrative penalty of $5,000 each and prohibited Rempel from acting as an officer or director of any company for 10 years.

The Commission found that:

· Batha, Rempel and J-H-R, during April and May of 1993, distributed, securities of Batha to resident's of British Columbia without registration and without a prospectus contrary to sections 20 and 42 of the Act; and

· Rempel falsely represented to investors that the securities of Batha would be listed and posted for trading on The Toronto Stock Exchange and on NASDAQ, contrary to section 35 of the Act.

The Commission said:

The conduct of Rempel in the distribution of Batha shares is precisely that kind of conduct that brings the securities markets into disrepute. He was deceitful and deliberately mislead Greco and the other investors. It is apparent to us that he had no intention of complying with any regulatory requirements.

The British Columbia Securities Commission is a provincial government agency responsible for regulating trading in securities and exchange contracts.

Copies of the Commission's decision (9 pages) may be obtained in person at 1100 - 865 Hornby Street, Vancouver, British Columbia.