The Auction period after 4pm put through nearly 800,000 shares at $7.60. At around 3.45 shares were still selling around $8.00. Possibility that Don Mclay is continuing to sell as he has been for the last few days. to put through that volume it cleared everything down to $7.60.
Total Volume for the day was 1096,462.
Whoever did it waited for the Auction on Friday afternoon so as not to cause a panic. If this was done earlier in the day i reckon it could have been another $1 lower.
Mclay has sold around 142,000 shares in the last week. Last announcement he was left with 2,138,550 shares after selling on the 28th and 29th nov.Will be interesting to see next announcement on either substantial holder or Director selling.Maybe Dons Aviation or Shipping needs an injection or maybe personal problems. Could be retirement and pulling some Super out. A neat way of getting a good price for aroud 800,000 shares on Market. RAB
Don McLay, BCom, CA(NZ), ACIS, FFin CHAIRMAN
Appointed as a Non-executive Director on 31 March 2008. He is a member of the Audit Committee and Remuneration Committee.
Donald has more than 35 years experience in financial markets, investment banking and broad business services. He has previously held executive roles at a number of local and overseas investment management and investment banking organisations, working in London, Singapore, Auckland and Sydney.
He is currently Chairman of Torres Industries Pty Limited, an unlisted public investment group engaged in shipping, aviation, non-bank financial services and infrastructure activities across eight countries. Donald holds a Bachelor of Commerce degree, is a Chartered Accountant, a Chartered Secretary and a Fellow of the Financial Services Institute of Australasia.
CCP Price at posting:
$7.60 Sentiment: Buy Disclosure: Held
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