Another Appendix 3Y notice this morning - this time from the Chairman of DVM where 1,030,000 shares at 14cps are disclosed as an off-market purchase. Transaction date given as 16 June 2008 which is clearly not in accordance with LR 3.19A.2 mentioned on the notice which requires disclosure within 5 business days.
These lads are taking the mickey! DVM still has a live prospectus offering shares at 20cps and the Directors and their associates are acquiring shares at 14cps without a word of explanation. Rather than feathering their own nest they had better guarantee spread and requotation.
Think the prospectus better be withdrawn, closed off or supplemented quick smart before too many questions are asked. However if they could get a placement away quickly via the offer then that is the best face-saving option.
DVM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
