13 million shares have gone through already this morning!
If it's Milford again soon they might need to change their name to A2Milford or something.
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13 million shares have gone through already this morning!
If it's Milford again soon they might need to change their name to A2Milford or something.
Do we know on whose behalf Milford is buying? Might it be for the Super Fund? I totally agree with the comments about how hard it is for a layperson to figure out the significance of those formal NZX notifications - there should be a plain language statement.
I'm new to this thread but have been holding ATM a long time (fortunately). Do others share my concerns about the number of shares/options that seem to have been allocated to executives etc? I'm opposed to options, bonuses etc and think that with limited exceptions remuneration should be by way of salary package. When a company is operating in several different markets with an incentive needed in each, this could get a bit out of hand.
In the last disclosure the shares were separated across seven funds. So yes part of that was the Super Fund.
Milford Active Growth Wholesale Fund (3.32%), (Custodian - TEA Custodians),
Milford Dynamic Wholesale Fund (2.44%), (Custodian - TEA Custodians),
NZ Equities Wholesale Fund (3.23%), (Custodian - TEA Custodians),
Trust Investments Sustainable NZ Share Fund (0.37%), (Custodian - TEA Custodians),
Waikato Community Trust (0.26%), (Custodian - TEA Custodians),
New Zealand Superannuation Fund (2.95%), (Custodian - New Zealand Superannuation Fund Nominees Limited)
Mercer Trans-Tasman Shares Trust (1.18%), (Custodian – BNP Paribas Securities Limited).
Shareholders approved said package limits at the last AGM in November.
I’m actually ok with the execs taking these packages, there needs to be a competitive incentive to retain, or in ATM’s case, continue growing the executive team internationally now.
Like most I think, I’ve been impressed with Geoff Babbage in bringing the company to where it is, and in just a few years. Some of the new execs do need to prove themselves a little more though, let’s give them a chance and see as it's early for some.
IMHO It’s better for shareholders in going international with the right leadership rather than with cheaper good local talent but with not the right exp. Many a company has made this mistake.
A side note... Infant formula at my local Coles supermarket has gone from $32 a tin down to $24. What may have caused such a radical drop?? Supply shortage - therefore its going out of date on the shelves? Uptake a bit slow?
You're right, in the past they haven't seemed to have purchased more than a million in one hit (excluding 1.9mil in Feb).
What do the chartists think? Support back in November was about 74c. If it hits 78c today it crosses the MA50. Is that a buy trigger?