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Meanwhile, the former chairman is selling shares. Although we sympathize with Ross Nor-gard’s desire to monetize some gains after serving as a director of Nearmap since 1987 and chairman of the board until 2016, his aggressive share sales bring into question the company’s promise of fast growth. Norgard has sold half of his shareholding over the last 12 months, net-ting more than $40 mln. His ownership in the company fell from 10.75% at the end of 2019 to 4.79% this month. We believe he lacks faith in the current strategy of the company.
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Are these guys at JCap idiots? They end the report with an obvious lie whilst they must know the sale was due to a court order as the result of a divorce!
The report has been very childishly put together, I think to serve another objective (short cover).
JCap short report released, page-80
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