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Post by Franko10 ™ on Jan 31, 2005 13:51:50 GMT -5
Kensington Resources Ltd.: David H. Stone Remains President and Director
VICTORIA, British Columbia--(BUSINESS WIRE)--Jan. 24, 2003
The Board of Directors of Kensington Resources Ltd. (TSX VENTURE:KRT)(the "Company") wishes to comment on the Settlement Agreement published 01/22/2003 between the British Columbia Securities Commission ("BCSC") and David H. Stone, President. The Board is pleased that Mr. Stone and the BCSC were able to conclude the matter in a manner that was fair and equitable to the parties involved. Kensington Resources Ltd. was neither a party to the settlement nor was it the subject of any investigation by the BCSC.
In his settlement, Mr. Stone agreed that he had not successfully filed the necessary insider reports within the time frame specified and should have done so. In consideration of that fact, he has agreed, among other provisions, to pay the stipulated fine and to take the recommended course to better educate himself on those requirements.
The Board believes that during Mr. Stone's tenure as President he has always strived to serve the Company's interests.
The Board has unanimous confidence for Mr. Stone to continue as President and Director of the Company as allowed under the Settlement Agreement. We believe that this is in the best interests of the Company and that its operations will not be affected by this settlement.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
Murray Tildesley, Secretary
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
VICTORIA, British Columbia--(BUSINESS WIRE)--Jan. 24, 2003
The Board of Directors of Kensington Resources Ltd. (TSX VENTURE:KRT)(the "Company") wishes to comment on the Settlement Agreement published 01/22/2003 between the British Columbia Securities Commission ("BCSC") and David H. Stone, President. The Board is pleased that Mr. Stone and the BCSC were able to conclude the matter in a manner that was fair and equitable to the parties involved. Kensington Resources Ltd. was neither a party to the settlement nor was it the subject of any investigation by the BCSC.
In his settlement, Mr. Stone agreed that he had not successfully filed the necessary insider reports within the time frame specified and should have done so. In consideration of that fact, he has agreed, among other provisions, to pay the stipulated fine and to take the recommended course to better educate himself on those requirements.
The Board believes that during Mr. Stone's tenure as President he has always strived to serve the Company's interests.
The Board has unanimous confidence for Mr. Stone to continue as President and Director of the Company as allowed under the Settlement Agreement. We believe that this is in the best interests of the Company and that its operations will not be affected by this settlement.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
Murray Tildesley, Secretary
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
