2 directors selling, 1 buying - nothing too sinister. Shrewd investing to rebalance.
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Rubik notes the following recent changes in the shareholding positions of its Board and Senior Management:
- The sale of approximately one third of their holdings by Mr. Craig Coleman and Mr. Andrew Moffat, following a rebalancing of their respective investment interests.
- The building of an ongoing stake in the company by Niek Hoogenhout, Group CEO, and his associated entities. Recent on market purchases have brought Mr Hoogenhout’s interests in Rubik to more than 500,000 shares.
Both Mr. Coleman and Mr. Moffat confirm that their partial share sales reflects a desire to rebalance their respective investment interests, and have noted that the remaining two thirds of their investment is intended to be held long term. Messrs. Coleman and Moffat confirmed their ongoing confidence in and commitment to the future of Rubik Financial Limited. This recent share sale marks their first share divestment since making their initial investment in 2006, when they became substantial shareholders and directors of the company.
RFL Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
