Yes, there a lot of cogs in the wheel that make things like this tick over..
The bottom line really is that as soon as investors started to gain confidence, the company produced two announcements that could easily be perceived as negative.. And that’s not good in markets.
Pia the chair of the remuneration committee..
2 fair questions: 1. Why would you convert RSUs at a time when the company is showing positive signs? 2. Why would you announce an LDA extension with the same timing?
With the resulting dump in valuation with no buying support, it only damages any potential positive sentiment towards the company.
Another red flag added to the long line of red flags for BRN.
Maybe Pia is the scapegoat here. If so, worse still and another red flag for the company..
If I were a large shareholder in BRN I would be demanding an explanation to justify the timing of it..
BRN Price at posting:
32.3¢ Sentiment: None Disclosure: Held
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