TAM annouces equity raising on 5 June. For 154 million shares at 13c a share. And the very next day, the 6th of June, a director announces that he buys 1m shares at 13.57c a share. That equates to 12% of his existing holding. Looks to be more than a top up, or purchases by a staff superannuation scheme to me.
That 1m shares looks to represent about 50% of the shares traded on that day.
Why would a director be in such a hurry to buy more?
Why? Anyone know?? Significant News coming??? Propping up shareprice?? If the latter thats not ethical right???
Shareholders, don't forget to cast a vote at the next meeting. Seek independent advice and always do your own research.
Disclosure, I hold no shares. Still keeping a watching eye as a former shareholder.
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