Ann: Change of Directors Interest - A Purcell, page-51

I think APs loan deal with HSBC could be a possible signal for share price. i e., AP thinks the share price would go higher and he would redeem those shares back. Thus it is not a selling /disposal of shares in nature by director. The reason imo is : for 40 million shares the value at deal should be at around $2.8 million (later the September SP was at around 7.c) so based on May’s share still is in a semi speculative nature, the lender would only give him a loan of around $1.4 million at the best (@50% of the securities value) and 1.4/40 = 0.035, that means he is selling his shares now at 3.5c Ps , if he is not going to redeem them back before or on the loans maturity. I don’t think he would do this.