Last week, Standard Tolling (TON.V) has announced its CEO Len Clough has increased its stake in the company to 9.9% through open market purchases. It’s extremely rare to see a CEO purchasing a 9.9% stake within 16 months after being appointed to the position, and it’s a positive sign for the other shareholders of Standard Tolling to see the CEO is definitely putting his money where his mouth is.
Len Clough now owns just over 3.3 million shares and 1.64 million options and warrants, so his interests are definitely aligned with the shareholders’ interests.
Disclosure: The author holds a long position in Standard Tolling. Standard Tolling is a sponsor of the website. Please see our disclaimer for current positions.