By the time Silver was appointed a CropLogic director, he held more than 24 million of the company’s shares. He has sold these down when it suited, without disclosure to the market. For instance, a change in substantial shareholding notice on February 13, 2019, shows Silver sold 5.2 million shares on December 6, 2018 – the same day the ASX issued a speeding ticket and a price query as the share price jumped from 1.6Ac to 5Ac. CropLogic denied any knowledge of a reason for the jump but must have been aware its top shareholder sold a swathe of shares. Two weeks later, 73 million shares were issued to sophisticated buyers – including Silver’s LTL Capital – at 1.5Ac. Shoeshine wonders at Silver’s luck, to sell out at exactly the right time and buy back more at one-third the price.
CLI Price at posting:
3.1¢ Sentiment: Sell Disclosure: Not Held
