As I understand it, to be eligible to buy in the SPP, you had to be a registered share holder as at 5 Nov 08. According to the Directors Report (part of the Annual Financial Report) only THREE of the SIX directors actually owned shares at that time:
John Ward, Peter Crosby, Elizabeth Nosworthy
The other three didn't have any shares, and I believe still don't:
William Curran, Jeffrey Goodman, Ross Harricks
Whippee!
PC has said that the directors can't buy shares because it can be considered as insider trading. BS. John Massey (the previous Chairman) had over 800,000 shares.
The Ventracor Corporate Governance document uses the words: "...the board has adopted a 'No Objection' approach"..., to directors and senior employees buying shares. If they really believed in their company, they would have bought shares, and it would certainly have helped the market to also believe in the company. So the SP may have gone up a small amount - no way that could be considered insider trading with no other announcements appearing straight after. It's all BS!
VCR
ventracor limited
perhaps, vcr will be sold soon, page-4
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