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$3.83 gbst holdings limited

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soggywinks

532 Posts.

1

13/10/15

12:32

Post #: 16165688
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Originally posted by shumsta ↑

This is really taking the pee. I just lodged a complaint with ASIC via their website, and I'd encourage other holders to do the same. It takes about 5-10 minutes.

Here's what I wrote:

On the 23rd and 29th of September 2015, Alan Bracklin and Stephen Lake, both directors of GBST Holdings Limited, an ASX listed company, sold a total of $11,750,334 worth of shares according to announcements filed with the ASX.

Then on the morning of 13 October 2015, GBST announced a major profit downgrade that caused the share price to fall by approximately one quarter.

The downgrade was due to project delays. The announcement was marked as being "price sensitive".

As directors of the company (Lake is also the CEO at the time of writing), they ought to have known that there were material delays in the company's projects at the time that they sold their shares.

Therefore, their share sales were likely based on information that was both not publicly available and highly price sensitive.

All documents relating to this matter of which I am aware are publicly available on the ASX website.

I accordingly request that you investigate this matter.

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Wow. That's pretty blatant. Sold half of his holdings!

GBT Price at posting: $3.99 Sentiment: None Disclosure: Not Held
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