Tracker,
not sure personally if he has been selling - I thought someone else posted so earlier in the day.
Looking at recent HDR announcements, there have been quite a number of directors ($1.10, Dec 04) options converted; but this was probably prior to the record date so that they were then entitled to the current rights issue.
I guess the expectation might have been that they might have had to sell some FPOs to exercise the options (or borrow to exercise and have subsequently sold?)
In hindsight - a bit iffy and not certain.
Re takeover, that's only a rumour at this stage.
Cheers
OG
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