So the Chairman sits back and sees that the 14c placement is oversubscribed and knows the last price was 15.5c. If he didn't think "The placement was obviously too cheap. I might have a bit of that too", he should be sacked for being an idiot.
It is not a show of confidence. It's using inside knowledge. If I still have my shares when the meeting comes around I will vote against him participating.
Ann: ICI Raises A$10.5m in Oversubscribed Placement, page-20
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