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And in true TRX style, the SP drops off the back of good news lol
The RNS makes me think there are no (immediate) plans for a takeover? What do you think?
I think it makes it a more attractive proposition but I am not hoping for a takeover just yet. Do we lease/rent the facility in Garforth (West Yorkshire), or do we own that? Checked my research notes and still not sure. Moved from Swillington some time ago but I seem to remember to larger leased facilities but I could be wrong.
I'm in no rush for a takeover either!
I'm in no rush for a takeover either!
I think it is just good business to buy the building - the finance director is a sharp cookie. Can’t think it makes any difference re a take over but I think it does suggest continued growth and optimism (measured as ever) - we will see shortly!
A clever move by the board. It won't grab any headlines, but it shows what a shrewd bunch they are with their business dealings and keeping a real eye on costs, and you can extrapolate that to the rest of the business.
It's much better to pay off the mortgage and own the asset at the end of it, rather than pay the same amount in rent each month and end up with nothing.
Take care of the pennies...
With the upcoming trading update probably going to confirm the progress on growth and profitability, the drop in the SP makes for a buying opportunity. Should be significantly higher by end of June.
Or so I hope.
So the directors trashed the sp by 10% so they could buy their options. I assume the shares they sold were earlier options at a cheaper price.
Pity they aren't aligned with normal shareholders , hand in pocket and buy some.
i feel ****e and lee are completely aligned with my aspirations, keep going gentleman and continue to top up as you have done over the past few years.
Strange editing by LSE on my last post but heyho
We all have the same aspirations. I wouldn't expect the top brass to need to sell half a million shares , between the three of them ,to fund the options granted for free. It was obviously orchestrated by the three of them for their own gain.
Each to their own , I'm sure you know better than me.
Its exercise of 10p options that they have partially sold and to be fair they sold less than 26% of the options exercised between them.
Agree optically this doesn't look great given trading update should be out mid next month onwards, but directors typically only have a short window in which they are allowed to sell, not insiders etc
@covgaz - they received the shares "under the Company's Long-Term Incentive Plan", so part of their contractual compensation package. Pretty normal stuff and, if you were a shareholder at the time, you probably voted for the plan.
As for trashing the share price, it had already fallen in the week before the sale.
Platoh I just find it very strange that the Directors are trading there own shares like a day trader would. Sell some cheaper ones to buy the next tranche , it doesn't smack of over confidence to me.
I don't agree with the sp fall a week before btw , it happened in tandem as far as can see.
It only fell last week so I don't get what you are seeing.
The sales were on 18th June. The share price reached a high of 70p on 7th June, falling to 63 on 17th June.
I think the problem the directors face is that they become liable for tax when the options vest, so need to sell some shares to cover the tax payments.
Given that 665k shares hit the market, which normally is over by a trade of just a few thousands, I think the share price held up very well. No doubt one of the IIs bought them.
Hopefully we'll be back on the front foot soon.
Good write up by hardman and co