He potentially bought more today too Percy. The depth was extremely weak and yet someone just hit the ask for 100k+ shares. Looked more like someone trying to help the share price than get the best entry price!
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He potentially bought more today too Percy. The depth was extremely weak and yet someone just hit the ask for 100k+ shares. Looked more like someone trying to help the share price than get the best entry price!
Looking back into the announcement history for Michael Stiassny:
5Feb2014 - Initial disclosure of 82,335 shares
2May2016 - Acquired 397 shares from estate
7Dec2017 - Acquired 80,000 on-market @ 62.6c ave
14Dec2017- Acquired 150,000 on-market @ 68.3c ave
20Dec2017 - Took up 42c rights + 82,732 shares
23Oct2019 - Took up 56c rights + 98,866 shares
26Nov2020 - Acquired 200,000 on-market @ 60.0c ave
Current new holding 694,330. This is the largest purchase to date, and also the first on-market purchase in over 3 years. I'd agree with JohnnyTheHorse that there's a good chance this wasn't just a 200k purchase but nearer 400k including the circa 200k bought at just before mid-day on the 30th. The on-going disclosure notice was filed at 3.17pm on the 30th.
Also is that the 30day MA just crossing the 100day MA (directbroking chart)?
CEO and a Director have also taken reasonable sized positions post announcement. I'm still expecting a further update from yesterdays acquisition not covered by the disclosure notices so far.
1 million share also just crossed at 61.
https://www.nzx.com/announcements/364276
Disc: trading position.
Huge volume crossing at ever higher prices...
Just over $500 to insure you boat seems reasonable
Another few mill to the bottom line ...cool
http://nzx-prod-s7fsd7f98s.s3-websit...421/336707.pdf
Bought a bolt-on already. A bit hard for us to know whether this is good or bad without disclosure of how much they paid.
https://www.nzx.com/companies/TWR/announcements
My reading was that the cost is some sort of ongoing referral fee to Club Marine. No cash upfront. Its unclear if this referral fee is one-off as customers sign up or ongoing like banks ongoing payments to mortgage brokers. Either way it should be factored into the pricing to make it profitable business for Tower.