I'd suggest it may have little to do with the FY06 result, although I do think that the result will be pretty good.
It may be that the previous Chairman wished to sell his 6.5m shares but not at current prices.
Why would he sell?
Many possible reasons, but I don't think it would be due to company performance.
I say that because it was the current Chairman & CEO who bought these 6.5m shares from him. They are more likely than the past Charman to know how the company is performing currently and were willing to pay a significant premium to the recent market shareprice.
This is another move that alters the ownership balance. As you are aware there have been numerous occasions over the past year or two where Substantial Shareholders &/or Directors have added significantly to their holdings.
It may well be interesting what develops regarding control/ownership of the company going forward and I'll be going along for the ride.
Cheers BH
SCD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
