re: i have held them for nearly 10 minutes now.min
Hi Miningnut. I can understand why some people might think Austin’s directors selling is a bad thing and they might right for all I know but there is a positive side. David Williams, the director who just sold, sold 600,000 on 15 Nov at 48c, not even 4 months ago. Those shares missed a capital return of 4c per share and two dividends of 1c and 3c. I find it impossible to believe he was selling because he thought the share price was over inflated. Grant Austin, another director, sold 500,000 at 42.5 on the 11 Oct. He missed a 50% profit in 5 months. Doug Zappelli sold 1,000,000 at 38c on sep 11, only 6 months ago. All these shares sold missed two dividends and a capital return. To say directors selling now is a sign the price is too expensive may turn out to be right but I’ll need a bit more convincing. Another positive is the buyer who took a 1,000,000 of David William’s shares in one parcel, that’s confidence. The stock has suffered from illiquidity in the past so the 600,000 sold on market might make Austin more tradable, thats another plus. On balance I don’t think the directors sales are negative but I’ve learnt enough from the market to know anything is possible.
Tim
ATG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
