Motors, 3.5% of the company is not a significant stake given he took out more than this as a salary last year. I am just sceptical when CEO's have very limited downside - as long as the company continues to operate, he can kick back and enjoy the big salary without worrying too much about the SP. I am not saying that this is what he is actually doing - I am just saying it concerned me and was a contributing factor to me exiting my position. I was also at the AGM when he spoke about getting the company ready to pay dividends, but I just think this was a premature statement - can you possibly see Macquarie allowing dividends to be paid whilst they have 70m+ of debt outstanding? When you are in a meeting with the CEO in July 2010 and he is talking up the upside in his NY acreage and the main driver for the share price and then 6 months later is playing it down, you must admit alarm bells start ringing.
Getting broker coverage is extremely important for the share price in a micro-cap like this, particularly if you want to get a share placement away on a Nth American exchange at a price higher than 11c. adw123's comments are relevant here.
IMP Price at posting:
11.0¢ Sentiment: Sell Disclosure: Not Held
