1. Stark left the register due to them winding up their huge fund in the US after the financial meltdown. They were liquidating big time. (From memory they went from 400 staff to something like 30, last I read.)
Hardly Emmerson management fault..
2.That was over 50 m shares when the day to day trading was little over, what 200-300k shares per day?.. That made a huge dent in market over a year or two. (How do you get rid of 50m shares when there are buyers for about 100k per line? (if that) .. The answer is : it takes a long time to unwind,, and so whenever there was momentum,, Stark would sell into it.. So no ,, not really ERM mgt fault. I would imagine that management would have loved to have managed that disposal off market,, but obviously couldn't.
3. As for Chinova,, I don't know. They had a smaller holding but still significant... who knows ? Would be interesting to know why.. perhaps they had bigger fish to fry.
Remember senior management has some serious skin the game and taking a modest income.. they'd love to see the SP rise too. It will come.
ERM Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
