Insider is making use of the feel good factor and after ex dividend sold out 2 million shares. With the approval of issuing new shares the insider will benefit with low cost entry and sell them during the dividend period. Just beware of shares dilution...
The reason was directors should not sold it in the market before. If they wanted to sell some, they should sold it off market in big chunk to investors. Otherwise, other substantial shareholders like Great Easten/OCBC would be mad lah and simply sell some to release their anger. Their selling will cost its price lower (But this creates a good buy for us retail investors to buy) and therefore the directors are ending up more more back. They should learn this lesson.
Had the presennt Kip MD managed their Meda and Tanco well during their short stints with the 2 listed com?Can we trust them ,one more time ,to put our hard earned money in their venture again?Only time will tell us later!
It is not about the performance. But selling to scare the investors especially for retail investors to sell as well but arrange to buy back by syndicates.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
shortinvestor77
5,487 posts
Posted by shortinvestor77 > 2017-09-12 21:39 | Report Abuse
Noted. TQ.