Ann: Change of Director's Interest Notice - Michael Glennon, page-9

You were making a pitch that you had a model and were predicting a lower bottom and then made reference to the fact that MG's purchases were supporting the share price and what impact it would have if he didn't. It's totally spurious. It's an oblique downramp at best - prompting the idea that you can get this cheaper and when MG runs out of money maybe even cheaper. In addition, I didn't even do the work that @VinP did to point out how infrequently MG has purchased shares. I did the search myself and outside of the DRP MG has purchased over the past 15 months and 4 days the sum total of 404407 GC1 shares. The daily average volume is 41487. MG component of that is roughly 1348 shares over 15 months. So in fact, MG accounts for just under 3% of all volume. Hardly a market support structure.

I really don't see how you can ever attribute MG's purchases to have an impact and I have always seen his purchases as opportunistic. In addition, I am fully aware of the fact that his purchases are not for the benefit of NTA. Generally, support is always given by a share buyback as it can continue (as I understand the rules) even during a closed period when a director cannot trade the share as it benefits all shareholders equally. Lic's benefit the most as it increases NTA if purchased below NTA.