I'm intrigued as to why Butt Nominees have purchased additional stock Wellard. Who are they? How are they viewing Wellard as a opportunity?
Today from the West Australian Tariq Butt owns at least 6.6 per cent of Wellard after buying about four million shares in the past eight days. His WA-registered company Butt Nominees invested almost $1 million in Wellard yesterday as the share price plunged 15.8 per cent to 24¢. The price hit a new low of 23.5¢ on a day when a record 17.5 million shares changed hands. Wellard chief executive and major shareholder Mauro Balzarini and Mr Butt are long-time business associates.
