747,322 @ $3.45 = $2,578,260.90
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That added 90 cents she received is the straw that breaks the back of patient shareholders not blessed with her insight beyond their ken.
I must admit I do not know what the financial/NZX regulations are. However, surely for Norah Barlow, whether recently resigned or not, to sell just before such a price-impacting announcement would be insider trading and be subject to investigation in order for investors in NZX companies to retain confidence in the market?
For the Board not to be obliged to come out with some explanation. No matter how pathetic (even sudden financial hardship). That is a litmus test to me of where the Board`s greater loyalties lay..
Perhaps it is just that I am ignorant that the Board have done just that.
For the Board not to be obliged to come out with some explanation. No matter how pathetic (even sudden financial hardship). That is a litmus test to me of where the Board`s greater loyalties lay..
Perhaps it is just that I am ignorant that the Board have done just that.
I think Norah Barlow's selling of shares coincided with her stepping down from being CEO.
She is on the board, but has a substantially smaller role in the company. It is perfectly OK for her to sell some of her shares at that point. I really think you guys are manufacturing a conspiracy here.
The problem though Roger, is that motive is a very difficult thing to prove, one would require evidence, an email "I'm going to sell quick" or something like that.
There are a lot of reasons she may have sold, probably a combination, and they may not even all be financial.
Although directors and CEO's are well paid, generally too well paid in my opinion, they can and often do hold shares for very long durations while a company is growing from a startup position, sometimes for 10 years even without realising a profit from that investment.
I don't begrudge them selling at a time when a company finally becomes prosperous after years of work and watching that investment grow.
Roger with greatest respect, Norah Barlow decided to step down a lot earlier than the 2014 Q1 sales figures were available. Norah would have had a plan and executed it. It is just bad timing.
If she hadn't have been stepping down then I agree it would be a bad look.
AOG's results just out if you want to compare.