Australia's largest stock trading and investment forum Australia's #1 stock forum

GBT

Click for more information

0.26%

$3.83 gbst holdings limited

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

First 11 Last

Share
Profile

Follow
soggywinks

532 Posts.

1

13/10/15

12:32

Post #: 16165688
Share

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.

Expand

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

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

0 Great analysis

Reply

Top Stories

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

DUI

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

PYC

Scientific conference spotlights PYC's work on blindness disease treatment

HotCopper Highlights: Your most watched stocks for Week 47, 2024

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 34 more messages in this thread...

First 11 Last

Add GBT (ASX) to my watchlist