was doing so well in the first 2 hours...Mr Market didn't start reading the AGM preso until around midday was it? Maybe thought there was no need to read it as can only be fantastic so share price must go up 5+%
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was doing so well in the first 2 hours...Mr Market didn't start reading the AGM preso until around midday was it? Maybe thought there was no need to read it as can only be fantastic so share price must go up 5+%
Once a trougher always a trougher. She has a long history of selling shares soon after they vest when at JetStar. Its the culture that she is setting for the company that worries me. I really liked Geoffery Babbage...he's gone and so am I. I think we could see some PE contraction but Bull's (Bear with a sore paw ?) outrageous comment is miles off base. I think this could continue to range trade for quite some time. Ideal traders stock. One has to consider the low base this has come off over the last few years and the fact that there's circa 13m shares still in management hands that cost them two parts of next to nothing.
At least she is being transparent about that. I give her that. I know its not great signal to the market, however I put blame solely on Board for structuring her package that way.
On a brighter note they're going to buy on market rather than issue new lot of shares, hence no dilution of earnings.
There is tension between two statements she made.
The forst was that she need to sell her next tranche of shares to fund existing obligations.
The second was that she has to me to work as a director / CEo and in the interest of adding capital value to shareholders.
Pre-existing debt obligations I understand. Now I'm no CEO but i figure there must be a number of ways of meeting that obligation. And it doesn't seem to make sense to me that you would "sacrifice" shares that a you are committed to increasing in value when you must have other resources to fund that obligation.
So what she is saying, essentially, is her ATM shares will be the cheapest way (best use of her capital) to meet the obligation.
(Disc - ATM I am swayed by their professional presentations and promises so remain a holder.)