Little of thread topic - But I am guilty of this all the time......

Little of thread topic - But I am guilty of this all the time...

Bainbridge had not appeared to have sold any stock as at 30 June 2022 (annual report) - and he had 5.33% of the stock on issue between is FT and SF - Doesn't mean he Isn't selling now - would take him quite a bit of time, and pushing the SP lower to get rid of 4m shares.

TBH, unless there is proof the Board did something wrong, and knew of his behaviour, then what is their to lay blame on them. Prior to him resigning everyone was singing his praises, the company SP had gone from $1 to +$5.50.

Put it like this, the directors aren't happy with the SP performance either. Dec 2022 rights with hurdles of $1.95 and or $2.25 are not looking crash hot.. 90k shares @ $1.95 and 300k shares at $2.25..... So if the SP hasnt improved to above those prices at the vesting date, they miss out on being given that stock... A bit of justice if you think they have not served you well.. And this is on top of the SP performance on the stock they alread own (3.319m shares, ex rights, owned across the board of directors (ex Bainbridge)... So that has gone from $16.5m in value (at $5) down to $6.6m today... Just some perspective..

SP action since the initial sell off on his resignation is more to do with no news (and poor March Qtly result). Ongoing weakness in SP continuing to keep shaking out loose hands (likely those in at higher prices, and the SPP raise etc)... Which is fair enough, has now been a very poor 8 months of SP performance and I can understand frustration of other posters.

The register is tight, as at 30 June the top 20 had 63.3% of the shares on issue.. So even the smallest of the top 20 holders could take between 15 and 20 days of selling 2/3rds of the daily volume if they wanted to sell out on market. If Geoff Bainbridge wanted out, and to trade out on market, it could take him 3 months... He would look to do a block trade or a crossing and take a 10% haircut to market price and be done with it (but there might not be any buyers around for that amount of stock - who knows)...