@essentialscutty
You are right that he is putting his own money on the table but it should also be noted it's no more than the money he has been paid as chairman.
Whilst it is great that a director shows confidence in a company by accumulating stock in that company. I am not happy with the way that is happening at SPA.
To buy on market is the true show of confidence and that's not what is happening here. CEO stands to accrue massive stake for free, over and above what I consider a handsome cash remuneration for the job. Chair and others using their remuneration to accumulate very cheap stock and in most cases with free attaching options.
Whilst this is a strong show of confidence in the future of SPA, it's a massive kick in the guts to long term shareholders of which I am one.
SPA Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
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