Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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he was entitled to sell and did outside the closed period. Likewise he could never be accused of insider trading as a further financial statement was not due for up to five months from the point of sale. that is the point he never put any figures on market expectations but the chairman outlined the change in strategy.. He could never be accused of insider trading in my view but, and it is a big but, he could ruin his own reputation ill give you that..
I'm afraid options are usually at a higher price, looks at SOLG with options at 60p, currently at 19p
I'm sure this will get to 20p again at some point, but we might be waiting a while, unless good news comes soon.
If you were the CEO and knew there were no/very little revenues to speak about to the end of the year versus market expectations and subsequently sold out on that basis then that is insider trading. Particularly since he had made statements on LinkedIn, podcasts etc of how comfortable he was and giving everybody a great winter break etc. As a senior figure of a listed company you need to be beyond reproach and his brokers, NEDs and legal team would have reminded him of the same.
how on earth could there be any complaint of insider trading in those circumstances given that they had informed the market of H1 figures just before..?
I think a "penny just dropped" in my mind.
Question: Why would the company grant the Chairman 1m share options and the CFO 500k share options at a price of 20p a share in early November if they thought they would be worthless? You would expect the Chairman and CFO to have regular sight of the financials wouldn't you? As a result, I think the price should be at least 20p if not more come the announcement (whenever that may be).
In addition the sale by JD and FP at 20p would look really bad if there were no revenues as there could be a complaint of insider trading.
Just a thought, I may be wrong but as repeated on this board before, what has changed except the radio silence???
yep that is certainly clear, this is horrible to watch. whats the chances that once it hits single figures there will be a certain ceo buying in with his new found wealth, it almost feels like news is being held back in order for that play or am i being paranoid?
clearly wants to take this down today, teasing people with a rise up then down again.
With out good news they could take this further down IMO, many with a big paper profit from the 5p and below days will no doubt be taking some of that profit just in case?