Simon Henry history of share purchases

Reminder : Simon Henry (founder and main shareholder) listed the company in May 21.
He did not sell any share at IPO and escrowed his shares for 2 years.
Since then, he has kept buying more shares on the market.

History of Simon Henry share purchases on the market since IPO:
- 27/5/21 : bought 100 k shares at 1.22,
- 3/12/21 : bought 2.9 m shares at 2.40,
- 17-20/12/21 : bought 178 k shares at 2.80,
- 11-16/3/22 : bought 500 k shares at 2.86.

Other elements :
- since IPO, the company has revised upwards its FY 22 EBITDA forecast by 86 %. This is partly due to acquisitions which led to an increase of 8 % for their number of shares since IPO and some debt increase (net debt of only 35 m at 31/12/21),
- so, the stock has tripled since its IPO, which is combination of forecast increase and rerating. Anyway, their EV/EBITDA 22 is now 16.1 x which is not that high vs its growth so far and expectations going forward.

So, DGL is one of the rare growth which has continued to do well recently (in particular among recent IPO).
Main reasons I could find :
- beating prospectus forecasts and keep doing acquisitions which increase its EPS (8 acquisitions since listing),
- as indicated above, share price well supported by regular purchases by main shareholder,
- also significant basis of earnings (element which is missing for a lot of growth stocks).