I really think people are overcooking the concept that "Aiden...

I really think people are overcooking the concept that "Aiden has done the wrong thing by selling his shares in the lead up to this cap raise" and that "it sends a negative signal".

1. He has only sold the shares that he was awarded and vested to him under his long term incentive plan on 21 August.
2. He sold 51,702 shares. He still holds 1,947,305 shares + incentive/performance shares. He sold a mere 2.6% of his total holdings available to sell. If he sold a much larger % of his holding then that may be a cause for concern or a genuine sign that the believes that the share price is over inflated.
3. He sold the shares for $13.66. That's just $0.66 above the issue price for this raise.
4. Would it look any better if he sold these shares immediately after the cap raise was finalised? I don't think so.
5. He's entitled to enjoy the financial rewards that he has achieved along the journey of building AD8 into the company that it is today. He still has a lot of skin in this game.