- Directors 'purchasing' because they are being paid in shares still (as per several RNSs); and - Share price jumped because (1) the shareholders voted in favour of the takeover, so now it's just the local competition tribunal hurdle before it's a done deal and (2) purchase price is USD so although it was c.12.7p at the time it was announced, it's more like c.13.5p now thanks to the strong dollar/weak pound
Looks like the dates for posting voting info & the vote, age being extended. Why has a Director purchased at 35c, is another offer being discussed ? If the sp rises above 12.9p, this will be an indication.
This share action is an excellent example of how the current stock market works. With a 40 pence base price for about 15 years, the stock has recently been shorted down to 6.5 & 5.5 pence. With Pro’s primarily focused on shorting & fear of investment, continually shorting to extracting money off each other & everyone else. There has been no attempt to ‘invest’ with a long term view of increasing the share price. The result is that ever one involved will receive a fraction of what the company could have been worth. In this case shorting stands for short sightedness & short changed.
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