Hi. No one can be certain of the agenda but it looks like to me like the CEO and possibly directors are trying to get a bigger slice of the company. Every year the CEO takes a good whack of his salary as shares and at the current price he got a wall of them last time. He has bought out the little guy unexpectedly as well. Oddly he threw in $2 million at a good interest rate then days later he is using it to underwrite a capital raising for less then clear reasons. He picks up another nice 3% underwriting fee as well. My thinking though is he would not be putting money in if he thought the company had a lackluster future. Any decision to proceed to participate from me has to be based only on that speculation - which is not a very sound way to make investment decisions but in this case, with absolutely shocking communication from the company what have we got? Just on communications. They used to be good then a few years ago they dried up. Is it a ploy for investors to lose interest and get the share price down to a more affordable level? I don't know but I ponder it sometimes.
UCM Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
