Bevan Slattery's decision to sell his shares in Megaport could be because of his loan arrangements and his upcoming departure from the board. On December 7, 2023, he entered into a structured option and loan facility, secured by 1,000,000 of his fully paid ordinary shares in Megaport. This Funding Arrangement reduces his economic exposure to Megaport's share price fluctuations within a specific range and is set to expire around August 2024. By selling shares, he might be managing his financial commitments related to this loan agreement. ( pure speculation on my part)
Also, Bevan is planning to step down from the board following the appointment of a new independent Chair. As he prepares for this transition, selling shares could be part of his strategy to simplify his financial situation and focus on his other venture.
MP1 Price at posting:
$13.83 Sentiment: Buy Disclosure: Held
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