Michelle Clarke vended her Pebble Patch childcare centre into Mayfield in 2017. After shareholder pressure she agreed to purchase $250,000 of Mayfield share's on market to demonstrate a level of commitment. I refer to the announcement released on the 16th of November 2017. " Furthermore, Michelle Clarke announced she will acquire a further $250,000 of Mayfield shares on-market, after final settlement of the acquisition, in accordance with the companies share trading policy " It's the 10th of January 2019 and Michelle has still not completed her promise to acquire the $250,000 of shares, not withstanding the shares have reach a low of 83 cents. Is it an exhibition of arrogance that the purchase will be made in her own time ? Does she think shareholders don't read announcements and somehow it will just be forgotten ? What does this tell us about the integrity to follow through on a commitment by a director ? What will be the ASX's opinion of the announcement made by a director that has not been completed i.e. what is reasonable time ? It's very concerning as a major shareholder to be treated with such arrogance by a director. I will be seeking an opinion from the ASX on February the 1st, 2019.
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