Q: Recent question about Robin Van Poelje (ceo of Topicus) selling so many shares is concerning. Your response indicates that 5i has some concerns about it. Do you have any more insight about what is happening? What is your take on what might happen going forward? Have you seen this type of activity before?
5i Research Answer:
As it turns out, this was an error in data. The CEO did sell PERSONAL holdings, but owns 37.5M shares through a tax structure. This was not listed in any of our data feeds, and we knew something was off. But the shares are listed on the most recent management information circular linked here.
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: