Montreal – The Autorité des marchés financiers (the “AMF”) is launching penal proceedings against Hervé Rolland before the Superior Court of Québec (Criminal and Penal Division), District of Joliette, for failing to disclose, within 10 days of the event, the changes in his control over the securities of a reporting issuer in respect of which he is an insider, namely Rolland Virtual Business Systems Ltd.
Mr. Rolland faces 9 counts for violation of section 97 of the Securities Act of Québec, with reference to section 174 of the Securities Regulation. If found guilty, he is liable to a fine of $2,000 on each count. The violations were committed from October 11 to December 17, 2004.
Insiders are required to report, within 10 days of the event, any change in their control of the securities of a reporting issuer via the System for Electronic Disclosure by Insiders (SEDI) 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 is the regulatory and oversight body for Québec’s financial sector.
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Philippe Roy (514) 940-2176
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