Yes this is the micro shareholdings of someone who has been a director since 2009. It gives the strong impression of director that lacks conviction that the company represents good value as lead by the previous or current board.
Only one longer term director has bought shares on market since 2015, Mr Heng in June this year bought 100,000 @ 15.5 cents per share to bring his total holding up to ahem, 100,000. Previous holding Nil, though he has only been a director since 2012 and would have received a mear pittance of about $500k in directors fees during this time.
There would have been the same opportunity for the other directors to increase their holdings at the same time as director Heng (Weber used exclusion periods for directors buying and selling as the excuse for no activity by directors in the market last year when this was raised at the AGM), but alas the opportunity passed them by. It is very telling that they refuse to back themselves in the market and are only buying now as a token show of support to the capital raising to protect their fixed remuneration.
Me thinks that the directors salaries should be paid at a rate calculated using the current share price divided by the high water mark share price during their term as director multiplied by the average directors fees for 10 similar companies with a few safeguards around share buybacks.
I know, accountability is in short supply so this will go through to the waste bin of good ideas for someone else.
