FIG 0.00% 2.0¢ freedom insurance group ltd

Ann: Freedom announces business restructure, page-43

  1. 1,245 Posts.
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    Relax. You will get plenty more opportunities to get your order filled.
    As I have said many times the only reason to buy this stock would be director buying or Steve Johnson taking up more of the stock. The reason was because the equity is just too hard to value- your NTA could just dissolve with a single pen stroke (legislative changes). The people who truly have the inside running (directors and significant shareholders) are best placed to assess the risk of this occurring. No matter what we think of equal information for all- this is not how it works in practice.
    In my opinion, the risks are higher now- directors are not buying. Instead the founder and major shareholder is leaving the company. Mr Cohen will probably head out and start another insurance business that can better adapt to the new regulatory requirements. Why would waste further resources on this "dead instrument"?
    My average is 45 cents!, I did sell 25% at 20 cents at the announcement of the strategic review. I will not be selling down here, but neither am I buying anymore.
    There was nothing to be pleased about in this so called strategic review!
 
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