Normally, I would concur, or not even post about such behaviour, however the trades were overseen by Smith et al, and not reported until the ASX enquiry. A very unprofessional look by the board of a newly listed company, regardless of of whether or not Rodney was adding to his share holdings, all the while looking somewhat dodgey by trying to evade capital gains tax.
Where were the 3Y notifications?
As many of my posts have outlined in the past, the price action of MLX has been somewhat 'interesting', as I have tried to post prior, with limited success.
In short, this looks like a class A pump and dump, with no recourse by management whatsoever. Now, we are still waiting for the 604, of which there is still no clue as to whether the selloffs had finished.
What IF the SP is forced down in order for a possible takeover Ann at a nice discount? What if the entity involved could be traced indirect to holdings of one of the substantial holder's in the current register?
Is the retail shakeout then ok??
The board are supposed to act in the interests of the shareholder, both retail AND institutional. Shareholder value might have been supported more , if the quarterly was a little earlier.
Anyway, this is only a discussion of the price action at hand, and I'd love to be proven the idiot, seeing as I have been adding more parcels over the last period.
It looked like we might hopefully have kicked the bottom, and with waning volumes, there will hopefully be some action to the upside shortly.
That, or leave your spare newspapers out on the back porch, because when the wife finds out what I've been up to, I'm sleeping on park benches...
MLX Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
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