Ann: Change of Director's Interest Notice - Appendix 3Y, page-22

For those interested in a more in-depth look at recent 3y ann's (and my thoughts) read on....if you don't care or think its of no significance skip this post altogether. Keep in mind this is how I see/read the situation.

Recent Director (Pinto) 3y's in perspective.

Pinto still holds 99,563,180 so his recent dealings in relative terms could be considered minor.....

BUYS:
159,048 shares 9th April for value of $13,320.03 (equates to 8.37c per share).
1,064,370 shares 12th April for value of $74,701.68 (equates to 7.0c per share).

Shares held in Admark Investments Pty Ltd - (28,726,430 held after on market buy change).

SELLS: (from same Admark Investments Pty Ltd account)
13th April 707,046 for value of $64,444.77 (equates to 8.8c per share).

BUYS:
Exact same amount 18th/20th April..........707,046 for $53,478.75 (equates to 7.56c per share).

$8966.02 is the difference here. For no net change in total holdings in that particular account....and all transactions are on-market purchases/sales.....no mentions of cross trades or transfers etc.


Drilling down on this:

Price opens 7.8c 13th April. We are told on 13th April at 12:25pm some very significant information:

HM3 results to be dropped on 18th via media release, ann also outlines issue of performance rights.

Make no mistake this is definitely going to be price sensitive info re HM3 (no matter how you dice it) and knowing when the info will drop leads to solid gains in price on expectation/speculation etc.

Two and a half hrs later at 2:46pm we're informed via 3y that Pinto bought the day before on lows at 7.0c (not sure how he managed that ?)..............while now highs of 9.0c have been hit and close is 8.9c.

Nothing irregular about any of this (?) except release of these two ann's has generated (as you'd probably expect) a good % gain in price.......holders and potential investors are understandably happy about this.

They now know the date for Hm3 results and they can see a director has been buying. Bullish stuff.  And there is no Trade Halt enforced so buying/selling continues on its merry way no doubt influenced strongly by these two announcements.

7.6c lows 12th April to 9.0c highs 13th April after 12:25pm announcement and 3y are released 18% ish gains seen. 16th April evens sees 10.0c high hit. So yes mkt reacted very positively to these two anns.

THEN 18th rolls around......HM3 data is dropped........it is less than optimal and price takes a hit. Nervous and less than impressed punters bail and perhaps a good few stops are hit along the way......mine included unfortunately.

However on Friday 20th after market closes at 5:15pm we get another 3y.

This one tells us that Pinto has sold 13th April (into the aforementioned 18% bullish spike definitely after the 12:25pm ann as he got 8.8c) and consequently, after the market has digested less than ideal HM3 data, he has re-bought on 18th/20th at 7.56c........

To a lot of folk this may all seem insignificant. However is isn't to me. Its the principle of the thing. Director trading before, during and after all this and managing net a positive difference of $8966 in the process.........is.........irregular imo.........and that's putting it politely. (Or he's just astute and lucky eh).

Sure he holds a vast amount of stock and is heavily exposed to ups and downs and so on.....but so what. Price sensitive info and a Director trading on market around it................you decide.

13th April ann links:

https://www.asx.com.au/asxpdf/20180413/pdf/43t5wqf5c0nkd4.pdf

https://www.asx.com.au/asxpdf/20180413/pdf/43t60bvgp2p7m6.pdf

20th April ann link

https://www.asx.com.au/asxpdf/20180420/pdf/43tcqhkvwpw3xb.pdf