PET (ASX) On a positive note (positive posters only pls)

Originally posted by Mickman: ↑

The directors sold out portions last year... I think Freedman sold something like 20m shares? Sold around the $1.30 mark so made a pretty hefty sum off a smaller parcel. That small parcel looks like it would be worth much more than all his shares that he has left?

It doesn't look good.... Did he sell out a smaller chunk to release some wealth knowing that he couldn't sell them all? The Chinese directors also sold a decent portion off as did Schuitema. The thing that got me at the time was that the chinese directors also sold a fair chunk on-market which to me sounded alarm bells. We were informed that the directors sold off to get some institutional investors on deck so the on-market sales made no sense.

Since the sell off the hard sales pitch died off, the SP has tanked and very little good news has filtered through. Now we are in a bloody suspension and the company isn't giving us much info at all. We don't know how bad this is or if we stand to lose our nest eggs. You would think as shareholders, part owners of the company that we would be given some sort of assurance, some sort of transparency but we just get kept in the dark.

This has turned into such a secretive stock and such a stress. As trusting shareholders we deserved better than this

Expand

On the other hand...... ALL directors and CEO bought significant parcels on the CR... 3 Directors, LF, B Shanahan and Ningping Ma. acquired $100k and ZZ acquired $750k with Lachlan McK investing $250k.

ZZ made another buy 50,000 @ $0.38 ($19,000) announced on 08/07/20

LF bought 70,000 @$0.455 ($22,749) announced on 10/07/20, and a further 30,000 acquired @$0.33 ($9,900) announced on 13/07/20

Pretty substantial investments all round.

23/09/19 All Directors + Schuitema bought shares (?options acquired), and

03/10/19 ZZ sold 5,859,515 for $7,865,150 leaving 25M even shares in his ownership, and
Ningping Ma sold 1,646,802 for $2,206,714. leaving 2,245,910 remaining.

This when the co. announced 03/10/19 the investment by (?)Regal.
Following an approach by a well-respected Australian institutional investor looking to purchase a meaningful stake in PET, the Company’s Chinese Directors agreed to sell some of their holdings in two crossings.
The PET Board and management still owns over 25% of the fully issued capital of PET. This sale was coordinated to minimise market disruption.
Deputy Chairman Mr Zhigang Zhang commented: “Following this sale there is no intention to sell further shares while the Company pursues increased global traction for its products.”
Chairman Laurence Freedman AM commented: “The Board welcomes the vote of support that comes with such a substantial investment and is encouraged by the growing level of investor interest.”

Given the dramatic spike in the sp in Aug/Sep 2019, I would think a sell would be a sensible thing to do..... all announced and above board.

announced 11/06/19. -
Schutiema had bought 3,337,087 and sold 1,679,559 leaving 12,700,000, increase of 1,657,528 in his holding,
ZZ sold 3,000,000 leaving 33,666, 667 (possibly for Chinese numeralogical reasons?), and
Ningping Ma sold 500,000 @$0.76

My point in researching these investments and returns is merely to uncover the real situation and debunk @Rubiconis's claims and to highlight the fact that these are people who have the right to earn a few $$$s from their investments the same as anyone else.

IMO they haven't "sold out" but have invested and sold to raise a bit of profit the same as others do.

Their current holding remain wholly substantial, especially LF who currently holds 69M+ shares, as noted by others above, or around 11% of the company.

Just thought I'd get this off my chest..... I'm really not keen on down-ramping spinners.

GLTAHs and cheers, Scott.