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15/01/16

07:46

Post #: 16800342
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Originally posted by Mightyatom ↑

I spoke with investor relations around begin of December about directors buying.

My question was specifically "although trading window is open due to the current sensitive nature around performance has the board placed a restriction on trading for KMP, which the board are entitled to do as per trading policy". The answer I got was carefully worded as would expect but equally quite open in other respects I thought.

a) the board hasn't placed a restriction, this part of the trading policy was played down. Drew attention more to individual is accountable
b) emphasis was placed on the comment that each individual has to satisfy they are not trading on information that the market should be aware of
c) common knowledge around the place that Mr Grech and Fowlie stretched their personal finances to support the PSD capital raising

My take on the discussion was two fold. The main one, if purchasing was challenged by authority it would be hard pressed to convince it was not taking advantage of the low price knowing with confidence - due to intimate knowledge of the trading environment - it will trade through this low point. Secondly, some (I.e directors) have other priorities in life and when they support a company with a purchase it is for the very long term not for trading purposes, which the trading policy doesn't permit notwithstanding.

If take a view the above means nothing then what about the other side of the equation. Why were they not selling a few or a lot? Restrictions apply to selling some of the stock but a tranche or two could have been hived off. I think the answer lies in my a,b,c

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Cheers for sharing Mighty, and fair comment about selling, but it's a pretty bad time to offload so yeah. Maybe not as gloomy as I imagine with that in mind. Clearly they don't see the company going under.

Also, I don't believe any of this capital raising nonsense being talked about. There are massive revenue streams here. Just get the ship in order and banks, everyone should be happy IMO.

Dow J having a 1.5ish% up near close.
Not sure if that will boost the share price today but I continue holding and hoping for some news and a bounce from these levels.

SGH Price at posting: 64.5¢ Sentiment: None Disclosure: Held
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