AFR today pointed to Fund Managers being spooked by CFO leaving and noted big sales of shares from Directors in August. Maybe some skeletons in the cupboard? Hopefully for shareholders its just hot air. GLTA
AFR TODAY
"They were already on high alert since Vocus executive director James Spenceley took $26.7 million off the table in August.
Spenceley sold 3.2 million shares - three-quarters of his stake according to ASX announcements - at about $8.30 a share.
And Anthony Grist, another non-executive director from the Vocus side of the Vocus/M2 Group merger, sold $9.9 million of shares in August.
All this comes as Vocus raised $652 million at $7.55 a share in June to acquire NextGen's assets.
This comes as investors look for the next stock to be hit by changes in the telecommunications industry, after TPG revealed lower than expected earnings forecasts on Tuesday.