The Directors of MYX purchased, on market, considerable parcels of shares (see announcements 19, 21 and 28th Dec). Scott Richards exercised 4m options that expired on 13 Feb 2019. My crystal ball told me MYX was going to commence paying a dividend. I bought into MYX partly based on this expectation.
No dividends have been announced. So why would you exercise options 2 years ahead of expiry. One explanation is that he wants to sell his shares. But he already had > 16m ordinary shares to sell. So why did he exercise his options? I doubt MYX needed the $600,000 paid to exercise the options.
The support from the other directors is very encouraging.
MYX Price at posting:
$1.48 Sentiment: Buy Disclosure: Held
