director support read on

If you get a chance, have a look at p 44 of the 2006 annual report. It tells an interesting story regarding senior officer support for a company that is supposedly on the cusp of greatness.

During the whole of the previous financial year:

Marcus Clark –(ex CEO) bought 56,095 shares
Eugene Kopp (now CEO/Chairman) did better buying 900,000. But he had to because he promised large shareholders that he would support the stock. He also gave himself a massive pay rise. Hopefully he is spending more time in the company’s Melbourne headquarters and not where he resides in Sydney.
The Head of the Scientific Advisory Panel purchased none.
And only one other director bought 100,000 shares.

Now, if the company has fully informed the public of the progress of its trials and its OK for Eugene to buy shares then, with such great things ahead of them (if you believe Mymom and Moneymachine), why haven’t any of the other officers supported the company ?

In total 1.26 million shares were purchased by Directors and senior officers. Eugene bought 900K of those which leaves a mere 326K of stock purchased by officers and directors for the entire year.

This was the year that Cvac was going to re-write the medical journal.

Sure seems like the results and the company prospects are not that mind blowing judging by the trading activity of company officers.