Montréal – On December 9, 2007, Louis Chouinard pleaded guilty to one count brought against him by the Autorité des marchés financiers (AMF) for failing to report, within 10 days of the event, the changes in his control over the securities of Lyrtech Inc., the reporting issuer in respect of which he is an insider.
Louis Chouinard faced one count for violating, in March 2005, section 97 of the Securities Act (the "Act"), with reference to section 174 of the Securities Regulation. He was fined $2,000, which is double the minimum fine under the Act.
Insiders are required to report, within days of the event, any change in their control over the securities of a reporting issuer via the System for Electronic Disclosure by Insiders at www.sedi.ca This link will open in a new window, thereby giving all investors access to the information within a reasonable time period.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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Frédéric Alberro (514) 940-2176
Québec City: 418-525-0337