Recent posts on APG have been the most fun for a while.
I have held APG for about 4 years and am optimistic about it's long term future. In the short term though I believe it may drop to around 3.6. Todays rise was unconvincing as it was on lower than recent volume, there is stock available at lower than today's closing price and there are more sellers than buyers.
I'm not sure how much faith I would place in reports of phone conversations with the company of an announcement coming with the implied or stated view by the person who called the company that it will be concerning a major company or other announcement that would significantly lift the share price.
I believe that this would be against ASIC regulations as directors are required to immediately release any information that could affect the share price. If a company is likely to conclude a major deal it is my belief that they are not allowed to release that information except as a formal announcement to the ASX,generally they should keep it in house until the contracts are signed and then release to the market.
I work for a small listed company and our CEO has previously informed me on occasions that a big deal is about to be signed off. Each time though prior to telling me he has told me that I must keep it confidential and made me agree that I would not trade until an announcement had been made to the ASX as it would constitute insider trading.
In APG's situation how would it look if a director tells shareholders that a major deal is about to be concluded, this information is posted to a public chat forum and some individuals purchase ahead of the announcement and then profit from selling post announcement?
MT has been a director for some years and I would be quite concerned about his judgement if he was releasing market sensitive information to people who call up over the phone. (Particularly when he must realise that there is the possibility that the conversation will be reported in fora such as this one as has happened many times).
APG Price at posting:
0.0¢ Sentiment: None Disclosure: Held
