Just worked out why my tongue in cheek Toby reference stung so you badly Jacksongreen.
This post of yours (following) certainly goes to credibility.
By way of an apology I had no idea you had posted this prior to my TC comment.
Hey everyone,
So, I emailed Toby Chandler and asked whether he could give us all some insight into the underlying reasons why he sold a SMALL proportion of his shares.
Firstly, he replied ... which I see as a further re-enforcement of the quality of management at SMN.
Secondly, this was his reply:
...
"Hi Jack
Essentially every primary reason for selling shares has nothing to do directly with the Company. There are personal financial reasons, portfolio attribution/risk-adjustment/variance reasons, there are macro-fundamental reasons which are not specific or idiosyncratic to the Company.
It also stems down to basic portfolio theory and risk management, as well as capital allocation optimization across multiple investments - not just SMN.
Also - in layman's terms, owning 6mm shares at 5-10c is a very different risk profile event to owning 6mm shares at $2-3.00.
Operationally - we are very comfortable with the present status of the Company.
Hope this helps
Cheers"
...
My concerns have definitely been put to bed by his reply. It seems to be that he and his fellow director were purely selling for his aforementioned reasons above - we (including myself) have all been reading far to much into it.
Let SMN do what it does best ... outperform and patiently wait for some news before the end of this year.
Onwards and Upwards!
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Last
34.0¢ |
Change
-0.010(2.86%) |
Mkt cap ! $47.88M |
Open | High | Low | Value | Volume |
35.0¢ | 35.0¢ | 34.0¢ | $4.896K | 14.33K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 419 | 34.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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38.5¢ | 17859 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 419 | 0.340 |
2 | 4500 | 0.330 |
2 | 17000 | 0.325 |
1 | 10000 | 0.320 |
2 | 35873 | 0.315 |
Price($) | Vol. | No. |
---|---|---|
0.385 | 17859 | 1 |
0.390 | 40562 | 2 |
0.395 | 5000 | 1 |
0.410 | 50 | 1 |
0.425 | 7000 | 1 |
Last trade - 10.15am 31/05/2024 (20 minute delay) ? |
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Last
34.0¢ |
  |
Change
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Open | High | Low | Volume | ||
34.5¢ | 34.5¢ | 34.0¢ | 5664 | ||
Last updated 10.15am 31/05/2024 ? |
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