Never a good look when a director sells half their ordinary share holding. That's my main concern with Wisr, how well the directors interests are aligned to shareholders and whether the performance rights are not being too generously handed out.
This is the company bio on Swanger:
"Mr Swanger has over 20 years of experience in financial services. He was Executive Director of Macquarie Global Investments. He has board experience, including Macquarie Bank's major funds management entity, Macquarie Investment Management Limited and a total of 15 internal and external boards since 2003. Since Macquarie, he has invested in and advised a large portfolio of technology companies across finance, health and entertainment. More specifically in areas related to Wisr, he was Chairman of five of the largest debt listed investment companies in Australia and New Zealand issued over the past decade, and more recently worked with Australia's largest corporate bond and securitization distribution specialists, is on the board of Xinja Bank and on the Investment Committee for two investors in SME financing in Australia and Asia."
It is disappointing that he is cashing out shares when he claims to have a large portfolio of technology companies..."
WZR Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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