The rights Chick took up last year and his involvement in the spp were open to him because he had existing shareholdings. They did not constitute new share purchases.
Given that the company has announced it is actively negotiating the partnership of ATC and is in the final stages of negotiations for its integrase partnering with Tibotec, do you really think it would be responsible (or legal for that matter) for a director or executive in the middle of those negotiations to start buying up shares now before the outcome is provided to shareholders? I wouldn't be happy that's for sure.
I understand you are skeptical of AVX and that's fine, but your criticisms don't hold much water. The capital raise you refer to was clearly badly handled from a PR perspective, however if they were simply after maximum cash, they would have gotten a lot more with a more traditional approach. Hence, i don't agree with your views that it was a lifeline, with the implication being it was a last desperate bid for some cash.
AVX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
