Re: On-market purchase of OGX shares by Admark Investments (Chairman Joe Pinto's family accounts).
Appreciate the concerns of HC posters about Admark acting a few days before the release of a widely expected ann.
We also know that Joe is a lawyer and would be aware of the above being seen as 'not so cool' (my words).
Just a thought exercise here:
Perhaps the actual day-to-day management of Admark Investments P/L (which includes both Joe Pinto's family a/c & Superfund A/C ) is not in Joe's hands but rather in a third party manager's hands.
In addition, the manager may also run a few other accounts other than Admark.
I suspect the purchase of OGX shares may have been Joe's family decision but the timing was a manager decision.
And why would Admark not buy OGX? It is currently the second largest holder after Anglo-gold.
Also why risk the wrath of the ASIC/ASX for 1.22+ million shares when Admark already has 98+ million?
Anyway, we need to ask why did Admark buy more? My guess is that the chairman had to show SH that collectively OGX is the goods and not to lose the faith.
Atm, OGX is still a minnow at the specie end of the market. Joe's purchase speaks volumes in support rather than 'front-running' the expected news release.
Just my thoughts. Not recommendations and always DYOR.
- Forums
- ASX - By Stock
- OGX
- General Banter and SP Thread People.
General Banter and SP Thread People., page-219
-
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add OGX (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online