"Excellent to see a rare buy from any of the phalanx of Directors they have had troop through the Boardroom over the past few years - always nice to see them buying.
I expect there will be more to come after yesterday's trading too!!??
I gather by them trading on market now that there is no follow up news to come soon - that is poor if true!"
So I was wrong AND right.
The trade on November 12 WAS another Director but I was wrong about there being no follow up news.
I am very surprised by this "insider trading" but assume that the update on the cap raising had already been expected/flagged so they (the Directors) felt justified in buying on market.
Unhappily for some (those that sold) is the lack of news for almost two weeks after the October 31 deadline the Company nominated for the Cap Raising to be completed. This could easily have lead some to believe the deal had failed and therefore they should offload - little did they know they were offloading straight in to the Directors pockets immediately before the update was released indicating it was still going ahead!!??
Very naughtly IMO and may well (should) get looked at in more detail.
This does not instill or reinforce an image of a clean and upfront board that has the shareholders best interests to the fore.
MVH Price at posting:
10.0¢ Sentiment: Hold Disclosure: Not Held
