There have been concerns and some postings specific to Mr. fungs recent trading activites and that he may be unwinding his positions in KRY. I framed this concern to RM to get his response to this issue. I have attached the questions followed with his response.
-----Original Message-----(QUESTION)
From: 'xxxxxxx'
Sent: Monday, February 11, 2008 7:49 PM
To: 'Richard Marshall'
Subject: RE: Mr. Fung
Hi Richard,
Can you comment on Mr Fung and what appears to be share dumping? Can you confirm it is Mr Fung and if so, what his reasons are for doing so? Concerned about the optics if this is true.
Thanks
-----Original Message-----(RESPONSE)
From: Richard Marshall
Sent: Tuesday, February 12, 2008 6:21 AM
To: 'xxxxxxx'
Subject: RE: Mr. Fung
Any sales or purchases by Crystallex officers and directors are reported on Sedi filings. It appears that some chat room posters suggest that trading activity at MacQuarie (formerly Orion Securities) has some involvement of Mr. Fung, Crystallex Chairman and an employee at Orion. Mr. Fung has no involvement in the trading activities or research departments there.
During times of financing activities, the underwriters involved are prohibited by securities regulation from soliciting trades in the stock. Thus any trading by underwriter firms is strictly on an unsolicited basis (e.g. an investor/account at those firms calls in a trade to the trading desk either on the buy or sell side and the desk simply executes the trade without any input or guidance.
Regards,
Richard Marshall
