The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Let's see if we get any post trading RNS' or a Monday 7am one
No idea who he is but he's been bang on the money
In-Cider? Who is the chap? Cropped up a couple of weeks ago on Twitter and has got every RNS nailed on...
*rns's
Apparently more ran's on the way (twatter)
I’m not entirely sure there is a rule that says insider trading is ok as long as you don’t profit too much - it’s pretty absolute. You either have gamed the system or you haven’t, the punishment may differ based upon how badly you have impacted others.
It doesn’t make sense - they are on very low salaries, have very small shareholding’s and haven’t chosen to appreciable increase these.. maybe they have some rsu’s which they receive once they hit certain performance levels - although I think this is unlikely.
The buy in raises more questions than it answers for me. Could be worse though - they could have sold!
Well I have stopped belly aching now and bought another 221k to round me up to 2.5 mill.
Hope you are right @ Giles
After the dilution I have 5.22% of the shares in issue.
So in effect a dilution of around 1.7% has taken place unless Mr Ward has been buying more we can expect a TR1 confirming now below 5% and possibly the same from Giles although Giles has stated he has added so may not have been diluted below 5%
@bots: They didn't buy from the market but bought newly issued shares. Along with the 2 million newly issued shares for Colva (originally due to be handed over, in lieu of payment for past services, in February) a total of 3,466,667 new shares were issued bringing the total in issue to 205,101,673. No effect on the 'free float'.
I also wonder
If the board had bought more shares than they did it would reduce the free float to the point where the market becomes inefficient. Some of the more experienced folk on this board might like to confirm this.
Okay, not much buying today, but compared to some small caps this has held up okay given the impact of CV19.
Ergo we have all been accumulating shares; and sweating over whether we’re doing the right thing. Confidence from the board takes the pressure off a little.
@jgj99: While I can't be absolutely sure, I am getting the distinct impression that this is just the start.
giles,
was this why you said don't sell your shares? or was it something else???
As has been pointed out the date of the Chairman’s Statement was the 19th May though the interim accounts were not published until the 29th. This is significant.
GS is aware that there have been attempts to manipulate the share price both in the market, on BBs and by some quite aggressive emails received by the Directors. He is not a fan of such behaviour and is doing what he can to make sure that these persons do not profit from their activities though obviously his arsenal is limited.
I, like many here, have been telling GS that Director Buys are the best way to show the company’s shareholders that they have confidence in the company. He was concerned that they could fall foul of Insider Trading but I have been pointing out that the Covid-19 situation throws enough uncertainty into life, the universe and everything that this is not the view held by the myriad of Directors of FTSE100 companies that have been busy supporting their shareholders. IMO £10k is large enough to show their confidence and, at the same time, small enough not to be considered as Insider Trading when the anticipated news is released. The price paid is fair as the support level has been at 1.5p for the last couple of weeks and certainly since the 19th May.
I added 300, 000 shares to my holding yesterday and will add more slowly over the coming weeks/months though it will be a while before I have to submit another TR-1 :)