Buy, page-4

You'd have to admit, Bob, that credibility is the main issue here. No matter what the justification or indeed the right to selling shares they have, Mike Reveley and Toby Chandler were deceitful several years ago when they sold large numbers of shares at the top of the market (with the pathetic justification of "portfolio balancing"). Toby Chandler went on to resign his directorship to remove his visibility when selling shares.

The two of them have never regained the trust of shareholders, and whenever there is a sale of director's holdings, the market will react accordingly - with the expectation that the deceit continues, and that more sales will follow.

I wonder if these two truly understand just how poor their reputation is? I imagine not, as they continue to act with contempt to the inevitable market reaction to their actions.