Q: I see that Robin Van Poelje (ceo of Topicus) recently sold $11M in CSU shares which amounted to 99% of his shares held. When I look at Topicus shares I see that he holds a tiny amount in the company. Any idea what's going on there, this seems odd. Especially considering the CSU mgmt style and mgmt comp plan that promotes insider ownership.
5i Research Answer:
***edited from prior answer****
The CEO has sold only PERSONAL holdings. He remains committed through 37.5M shares held in a holding company, and multiple sources (including Bloomberg) did not report this and it created confusion.
Thank you very much (though it is hard to confirm if not on SEDI). We suspected something unusual was occurring, and Bloomberg did not pick up the ownership position listed in the April 2024 Management Information Circular because it was not held directly. But as noted he remains very much committed and we appreciate the back up here. Here is the link: