Ann: Change of Director's Interest Notices, page-10

First 10 Last

Share
Profile

Follow
Benny^18

980 Posts.

329

03/04/24

12:35

Post #: 73166519
Share

Originally posted by TMacker: ↑

this announcement frustrated me for a couple of reasons but mainly because of the repetition that it seems to occur with Ashley Krongold and the continued reason being for "taxation liabilities" which we have heard quite a few times before now.

it's not up to me or any shareholder what a director does with their shares and they are entitled to do what they want, but to continually use the company as an ATM for your tax liabilities is starting to annoy me, especially when investor sentiment in the company is so poor.

I have no doubt that management, the board and the employees are working extremely hard, and if you look at the share price over the last 5 years it has done very well.

But there is no denying that the last 12 months the share price has underperformed significantly. I am not comparing now to the $9 we achieved last year as I believe that was inflated, but even if you look at the $5 capital raise in early 2023 we are 40% down from there.

I wanted to find out how many shares have been bought and sold by directors in the last ~4 yrs because I can't help but feel that very little has been bought with quite a large number being sold.

Number of shares bought by directors since July 2021: 107,000 (9,000 bought by Coby, 49,000 bought by Dadi, 49,000 bought by Atiq all in March 2022)
Number of shares sold by directors since July 2021: 1,450,000 (all shares have been sold by Ashley Krongold and Yoav Nissan Cohen to be fair to other directors)

I get it, the company has increased in value substantially and you should be allowed to take some off the table and I agree, but looking at those figures disappointed me I can't lie.

These directors are remunerated extremely well, and not much of it has made it's way back into the company in the last 4 yrs. Coby has mentioned that a lot of the share price underperformance is the shorters, and that aussie investors don't understand the tech etc and I agree to a certain extent, but I will tell you what doesn't help the share price either and that is continued director selling each year with not much re-purchasing.

I am sure I will get shot down for saying some of this, but I am being factual. WBT is also my biggest holding by a mile and I have held since 2015, I am also very bullish long term.

Expand

Respectfully, what Ashley has done is perfectly within his rights and he has not done anything wrong. All these posters jumping on him are being totally unreasonable. Keep in mind, when a director is issued performance rights or essentially free shares, they still have to pay tax on the market value of those shares issued, despite not receiving any cash proceeds. It is commonplace for directors to sell small holdings to fund personal

obligations, go and spend five minutes and you'll see how widespread this is. Even the world's richest man Elon Musk has done this several times....

it is by no means a reflection of Ashley's lack of confidence in the company.

All my own personal opinion.

WBT Price at posting: $3.07 Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

Reply