end of close predictions, page-44

Mascalzone,

The directors have a very decent holding of this company. You say lack of director buying is concerning you. Well I'll tell you if you tried to invest ont the basis of directors buying and selling shares you'd do your dough almost every time. Why? Because you have no idea their reasons for buying and selling.

Remember that directors will be rewarded on performance. Unlike you and I, they don't need share holdings to be rewarded. They can be ewarded in salary, performance share issue, all sorts of other ways upon success.

I always go back to OXR I know but this is a typical example. Owen Hegarty never bought shares on-market. His rewards were based on success and he left with a very healthy bank account.

The bottom line is the directors dont need to buy shares to benefit. And whilst in can create this warm fuzzy feeling when they do, it really has no bearing on the failure or success of the company.