We are in full compliance of NZX disclosure requirements
Just getting early to save the NZX asking
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We are in full compliance of NZX disclosure requirements
Just getting early to save the NZX asking
Maybe someone got to read it early!Quote:
Metro Glass to announce FY19 interim results on 26 November 2018
Did the new CEO dump his sign-on package on-market?
discl. kidding
Heres why, they finally made the release, though after market open....
New competitor coming into the market in 2020......bit later on though have similar scale so could be a strong competitor
https://www.nzx.com/announcements/327025
"We have had it confirmed to us that a large aluminium extruder is looking to enter the New Zealand glass processing market, with a new processing plant near Hamilton. This greenfield development is expected to begin early production in circa 18 months, and by way of comparison once fully up and running may be of a broadly similar scale to Metroglass’ Highbrook plant."
Maybe somebody in urgent need for cash or somebody selling inherited (or whatever) shares without understanding how the market reacts on the dumping of a low liquidity share without setting a limit? Looks like a bit more than 200k shares got dumped into the morning auction and went for 72 cents. The trickle sales afterwards might be just nerveous reef fish selling into an unprepared market ...
Shares for $230k changed hands so far, this does not look like a tsunami to me.
Announcement released at 10.49 a.m.. In my opinion it is quite clear that some people traded on inside knowledge in the first 49 minutes of trade today. If anyone feels sufficiently motivated and aggrieved and wants to make the effort of a formal complaint to the NZX I think you should and I think there are good grounds to feel aggrieved.
This release was quite clearly prepared over the weekend and absolutely should have been released to the market before it opened this morning. WTF is the company thinking delaying it till 10.49 a.m. ?
The timing of this release is as "Mickey Mouse" as it gets in my opinion and a very sad inditement on the governance of the company.