I wonder about this as well. Why is Butt ploughing money into...

I wonder about this as well. Why is Butt ploughing money into the purchase of Wellard shares?

Besides the reasons that you state, my skepticism suggests that Mauro and Tariq Butt may be colluding. After all, there was a paucity of data in the financial results and conference presentation. As mentioned by others here at HC, there was a lack of information on JV in Turkey, development in China with Fulida Group, and future guidance. All important information.

Mauro and Tariq are friends with many years history. Of course they would be talking. If Tariq can acquire shares at a cheaper price, by Mauro withholding information that is positive price sensitive, it would be to his advantage to do so.

After all, why would Tariq risk investing in Wellard and losing money given pending covenant breaches. Maybe the risk is lower than we realise and Tariq knows this. If so, Butt investing in Wellard would be a positive sign for holders in Wellard.