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BRIEF-Gulf Resources discusses sales of shares by executive officers
June 9, 2017 / 12:48 PM / 2 months ago

BRIEF-Gulf Resources discusses sales of shares by executive officers

June 9 (Reuters) - Gulf Resources Inc

* Gulf Resources discusses sales of shares by executive officers

* Executives continue to hold 271,725 shares in aggregate, that were not on deposit at ASTIS​

* ‍Executives agreed they will sign a lock-up agreement with company to restrict sale of remainder of their shares for next three years​

* Today announced a statement on sales of shares in company by three executive officers​

* On May 24, AST Investor Services, notified its holders of personal brokerage accounts is filing broker-dealer withdrawal with FINRA​

* On May 24, ASTIS notified its holders of personal brokerage accounts is ceasing its broker-dealer operations as of June 15, 2017

* Due to short timeframe certain of co's executive officers who had accounts at ASTIS were unable to find new brokerage to hold shares​

* Co's executive officers decided to sell their shares deposited at ASTIS, which is a portion of their total holding shares​

* ‍ASTIS's decision to cease operations as broker-dealer has no impact on business, operations, financial condition/results of operations of co​

* ‍ASTIS's action only had consequences for personal brokerage accounts of executive officers​ Source text for Eikon: Further company coverage:

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