Ann: PET Directors satisfy significant institutional demand, page-38

I have no problems with directors selling. I have sold some of my holdings as well. As management holdings are deducted from the market cap in calculating whether we get into the ASX 300 a wider spread of ownership makes this more likely down the track. However, I note Wilsons do not have PET as likely to be included in the next reweighting.

However, many people view director selling as a negative so it is not surprising the share price has fallen. If directors sell they presumably do not expect the share price to rise to $2 in the next few months.

I am puzzled by the fact that the ASX announcement says directors only met part of the institutional demand in the block sales. Yet three of the directors also made on market sales. If they wanted to sell more why not meet the unmet institutional demand in the block sale. Why do it on market?

On my calculation from the notices about 600000 shares or close to $1 million shares were sold on market. The rationale escapes me.