re: rally in full swing now Is it just me or is anybody buying...

re: rally in full swing now Is it just me or is anybody buying up MGW fcked in the head.

The director is shorting his own stock. He bought put options to protect exactly the number of shares he owns (8,250,000) and they expire in Feb'06 - and surprise suprrise in time for their half yearly report on the 22 feb'06 ! Does it take a bloody genius ?

Take a look at the the announcement,

05/12/2005 4:04PM 3 Change of Directors Interest Notice

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Mr McGuigan has entered into a new financing
arrangement with Macquarie Bank Limited. This
arrangement includes the purchase by Mr. McGuigan
of put options over 3,250,000 McGuigan Simeon
Wines Limited (MGW) shares. The put options are set
to mature in February 2006 and are only exercisable at
their maturity date.

Mr McGuigan has also extended the term of existing
put options over 750,000 MGW shares to mature in
February 2006.

Mr McGuigan continues to hold put options over an
additional 4,250,000 MGW shares which are set to
mature between March 2006 and January 2007.

The put options outlined above have the effect of
protecting the value of 8,250,000 of Mr McGuigan’s
shares. Mr McGuigan is also entitled to participate in
price gains in these shares to nominated levels above
the current share price.
=========================================