I disagree - the guy owns about 13m NTL shares, and has done for a very, very long time. If he has half a brain, and I am assured that he does from years of being a vocal shareholder myself, he is taking the opportunity that I have so regularly posted up here over the last few weeks.
Sell NTL at a premium to the rights issue price and accept the rights.
Shareholders with rights can buy at 0.5 cents, and non-shareholder can buy at 0.6 cents. Why you would be buying at 0.6/0.7 is beyond me, why a shareholder wouldn't be selling at 0.6/0.7 when they can buy at 0.5/0.6 is beyond me too.
On this basis, I don't think the normal adage about directors selling applies. You could also ask him yourself in his capacity as a shareholder why he was selling if you are concerned
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