The rejected US fund was announced by PSY on 16th Jan 2014. Closing share prices on 16th Jan and 17th Jan 2014 were $0.099 and $0.110 respectively.
The director's shares were sold on....... at ...... When and what was the price? It can be easily computed from Appendix 3Y. How?
Extract from Appendix 3 Y On page 16
Number of shares disposed: 1,350,000 Number of shares acquired: 16,667 Number of shares disposed (net) = 1,350,000 - 16,667 = 1,333,333
On page 17
On market trades for net aggregate of $145,986.65
Unquoted Average price per share disposed = $145,986.65/1,333,333 = $0.109
If the details of the rejected US fund proposal were disclosed on 16th January 2014, what would happen to the share price? IMO: The board should let investors to make their informed decision.
Information asymmetry?
Is it in the interest of all shareholders?
Please make your own conclusion
PSY Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
