This was foreshadowed by the Chairman at the AGM in his address to Shareholders, at the end of his address, he states:
"I should also mention that Donald intends to sell some sharesfrom late November this year through to June next year in order to meet some personal taxliabilities."
The tax liability arises because the MD receives shares as part of incentive arrangements with no exercise price, i.e. receives shares without having to pay for them, which is all quite normal for a listed company. If you receive the shares and don't have the cash to pay the tax when it falls due, then they have to sell some to pay the tax. Hope this helps.
CDA Price at posting:
$6.60 Sentiment: None Disclosure: Held
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