Just re iterating my March comments post the last share sale but have now altered the numbers to reflect the latest family "dump" piss take"
Dreadful optics. It just shows you what one stupid and audacious act can covey to the market by selling $5.4m worth of shares 1. The MD effectively telling the market that he prefers cash to holding his own stock 2. The MD made about $600k + in salary last year and a total of over $900k when non cash items were included 3.Took about $65m off the market cap of the stock- down 20% 4. Took over $1.37m off the value of his remaining holdings and $4.75m off the value of Daddies remaining holdings 5. Bad look to sell during the currency of a multi million dollar court case 6. Effectively confirmed a "double top" on the chart- bearish Made the following comment in March -"I wonder if any other directors will also sell some stock to meet "tax obligations" one has done so in previous years and around this time?" How long will it be before everybody realises that this is just a family cash register!
NMT Price at posting:
47.0¢ Sentiment: Sell Disclosure: Not Held
