Respectfully mate, that's just conjecture. A more cynical view could be that he saw a company that was struggling and realised an opportunity to get in the ear of management and suggest a company that could help with that (Lycopodium); thereby favouring his own business. The reality is we don't know the truth, and we won't know what the damage looks like until the next annual report when we get to take a look at related-party transactions.
It really doesn't matter how fair it "seems" though; related-party transactions from directors who are meant to be independent is a terrible look.
AGY Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)