Whilst director selling is never a good sign, this latest sale amounted to 1.16% of his holdings. Over a three week period, total sales (including this latest one) represented 5% of total holding. Terry Dodd still holds 18.5M shares (4.72%) after these sales. Along with Chris Smerdon (6.01%) and Jeff Ellison (5.45%), management has a significant stake in the business.
This may well change on the retirement of Jeff Ellison 'on or before the next AGM'. Latest investor presentation stated recruitment of new CEO was well advanced. Original announcement indicated Jeff Ellison's possible return as a non-executive director after a break. Should this eventuate there would be less risk to his selling his stake.
Does anyone have any thoughts on what impact a change in CEO may have on the business?
SLK Price at posting:
$3.85 Sentiment: None Disclosure: Not Held
