Leaving aside for a moment that they could probably do with a little bit more cash, there is so much to like at Painchek and you can clearly see the commercial progress they are starting to make and where that can/may lead over the next 18 months.. However this lack (very late) disclosure of changes to directors holdings is incredibly basic stuff and does not fill me with confidence that they have the corporate governance ducks in a row.
I could just about forgive the buys not being disclosed, but the sells, that's unforgivable, the individuals involved knew full well these should have been disclosed and if they did not know then they should resign at once as they are unfit to be a director of a listed company. Also the fact that it involves 5 directors and not a single individual suggest a systemic issue.
Hopefully a one off, but for now moves it to a watching brief for me.
PCK Price at posting:
2.5¢ Sentiment: Hold Disclosure: Not Held
