I agree with a lot of what has been said here. There is no good time for any director/executive to sell shares. To sell 5 million shares in a single transaction needs a discount to real value... which is what happened. That all makes sense.
If I were Otto I'd have done the same. Sensible. It is hard to argue that having >90% of your super in one share is a good idea. I'd expect any accountant would give him a thorough spanking for this approach.
I like that he sold them before TGA approval and before any commercial deal... once they are close to signing a deal he cant sell and leaving upside to an institutional holder is smart so they may choose to stay involved.
Bring on TGA/Commercial deals and the Australian government making the sensible decision to update our national bowel screening program to Colostat, so we no longer need to play with faeces to get an inferior test result.
From a dedicated and proud RHY holder. Ethical investing at its best. What fun.
Gav
RHY Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
