On face value, the selling of FPO's to fund the conversion options appears ok but...
In the West Australian newspaper today, I think it was Peter Batten who was quoted as saying that he could offer no explanation for the share price fall.
In my opinion it is blatantly obvious that the director A Clayton selling his FPO's has caused the share price fall.
Mr Batten must have known about the shares being sold and wasn't prepare to provide a reason which contributed to the share fall and then justify the sale.
I once again question the honesty, integrity and transparency of company directors.
director sells shares to purchase options., page-17
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