TORONTO, Sept. 27, 2012 /CNW/ - Sino-Forest Corporation ("Sino-Forest"
or the "Company") announced today that David Horsley has ceased to be
employed by the Company.
Mr. Horsley was the Senior Vice President and Chief Financial Officer of
the Company from October of 2005 until April of 2012. In April 2012
Mr. Horsley resigned as Chief Financial Officer, at the Company's
request, following the receipt by the Company and certain of its former
officers, including Mr. Horsley, on April 5, 2012, of "Enforcement
Notices" from Staff of the Ontario Securities Commission. Enforcement
Notices typically are issued by staff of the Commission at or near the
end of an investigation, identify issues that have been the subject of
investigation, and advise that staff contemplate commencing formal
proceedings in relation to those issues.
On May 22, 2012, together with the Company and others, Mr. Horsley was
named as a respondent in a proceeding commenced by staff of the Ontario
Mr. Horsley continued at Sino-Forest after resigning as Chief Financial
Officer of the Company until he ceased to be employed by the Company on
September 27, 2012.
SOURCE: Sino-Forest Corporation
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