News Release
Securities Commission Releases Durward and Kehoe Decision
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Date:
1993-05-14 -
Number:
93/02
Released: May 13, 1993 Contact: Ron Messent 660-4800
The British Columbia Securities Commission today released its decision on a hearing affecting James Morris Durward and Sean Francis Kehoe.
On September 10, 1990 Beringer Acquisitions Ltd. made a take over bid to acquire all the voting shares of Trian Equities Ltd. On September 28, 1990 the Superintendent of Brokers ordered that the take over bid be cease traded and issued a notice of hearing on February 4, 1992.
The Commission found that Durward and Kehoe, as directors of Beringer Acquisitions Ltd., were responsible for preparing and filing a take over bid circular which did not comply with the securities legislation. Both Durward and Kehoe had experience as registrants under securities legislation and Durward's trading privileges had been previously withdrawn by the Commission in 1989 for failure to meet regulatory requirements.
The Commission ordered that Durward's trading privileges be withdrawn for 30 days and that Durward and Kehoe each pay an administrative penalty of $5000.
Copies of the Commission's decision (7 pages) may be obtained in person at 1100 - 865 Hornby Street, Vancouver, British Columbia.