MIN, page-4

Sally_Will

I respectfully disagree.

If anything the AFR report makes it look worse.
If the report is accurate, it seems to confirm that Mr Wade knew that MIN intended to make a bid or that there was a high probability that they would make a bid.
In which case, it appears that the directors might have sold shares while in possession of material information likely to affect the SP, which had yet to be disclosed to the market.
The early emergence of the other bidder for AWE, just forced MIN to bring their bid forward.
That bought the director share sales into much sharper focus than if the MIN bid had only emerged after a respectable delay.

As elaborated in my earlier post, it is well known that, in general, the initial response to the emergence of a bid is for the bidder’s SP to fall.
Thus, regardless of the purity, or otherwise, of the director’s motivations, I am surprised that they sold shares in that circumstance.

At the least, selling in that period ran the risk of inviting some distracting enquiries.

Of course, MIN shareholders will not care a rat’s about any of this if the SP keeps to going up. I am pleased to report that, for the time being at least, I am now in this camp.

But someone who bought just before the bid and sold soon after the bid announcement would be a bit cross now.

Cheers

These are my opinions only. Nothing that I have written here should be construed as disparagement of any of the parties or entities involved. For all I know, all of the parties and entities may be completely convinced of the correctness of their actions and be acting from the highest possible motives with all due skill and care in accord with their various responsibilities and obligations. Any figures and facts are mentioned in good faith but I accept no responsibility for their accuracy.