Looking at the Chairman's addresss, it seems that director Dennis Punches has been selling his shares as he was intending to retire (effective today 23/10)
I'd see that as a legitimate reason for a director to sell their holdings.
Considering the performance of the company over the past 5 years I don't have a huge problem with what management has been paying itself.
Ann: Change of Director's Interest Notice - Dennis Punches, page-9
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