The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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The RNS doesn't state they bought recently - they are disclosing their position because >1% of outstanding shares.
There is no way directors of the company would be allowed to buy shares at the current time as they undoubtedly have inside info related to discussions with potential bidders and the AA board of directors thinking on what might be acceptable.
My message at 21.58 today: RNS was at 2.47pm, not 2.27pm.
Couthard appears to have been an ex director at Charterhouse Capital Partners (see on companies house). If I'm not mistaken these is the PE shop that originally was involved with AA prior to its listing.
Seems like potentially one of the old PE directors involved in AA years ago is investing himself this time.
No mention of Sweeney in the 2020 published accounts. I'm beginning to think HL have got it wrong putting him down as a director. Same with Coulthard, who appears to be a director of "Nutshell TV Ltd", and whose occupation is listed as "Investment Banker".
Conclusion: they don't appear to be directors of the AA, but they certainly believe the shares are worth buying at 38p FWIW.
I've found the RNS for Sweeney - it was at 2.27pm on 11/8/20. But it was not headed "Director/PDMR Shareholding", which is why it was difficult to find. Curious.
There hasn't been an RNS for these purchases, as far as I can see. So how do HL know about them? I would have thought dealing by management wasn't permitted at the moment. But if it's true these large purchases at 38p have just taken place, it bodes well for the SP.
Now that is a very enlightening link. I particularly like the "regular purchase transaction" description - for £541k worth, ffs, them directors have deeeep pockets.
https://www.hl.co.uk/shares/shares-search-results/a/aa-plc-ordinary-shares/director-deals
Guys have a look at this link. Why on earth would this be taking place if AA were posturing. Real deal for real shekels. 85p at least imho.