SMALLBONE - just when it all starts to look more promising, the Directors start selling again, unbelievable!
Just when Smallbone, the AIM quoted luxury kitchen manufacturer, was starting to attract a bit of a following, yet again the Directors decide to sell a load of shares!
Charles Smallbone, Chief Executive and Chairman, sold 60,000 shares at a price of 104p per share and Mark and Cynthia Wilkinson, also both Directors, each sold 388,615 shares at the same price.
The Wilkinson’s share sales were material relative to the their holdings and their actions hardly give confidence to prospective, not to mention existing, Smallbone shareholders. More importantly in the current rather fragile market their actions are highly questionable.
The brokers can come up with a lot of old waffle about improving liquidity and attracting a wider shareholder base but this is a micro cap that's reliant on private shareholder interest and to my mind, their actions don't look good.
Having got quite keen on this evolving story a few weeks ago I’m certainly going to avoid this one.
Charles Smallbone, Chief Executive and Chairman, sold 60,000 shares at a price of 104p per share and Mark and Cynthia Wilkinson, also both Directors, each sold 388,615 shares at the same price.
The Wilkinson’s share sales were material relative to the their holdings and their actions hardly give confidence to prospective, not to mention existing, Smallbone shareholders. More importantly in the current rather fragile market their actions are highly questionable.
The brokers can come up with a lot of old waffle about improving liquidity and attracting a wider shareholder base but this is a micro cap that's reliant on private shareholder interest and to my mind, their actions don't look good.
Having got quite keen on this evolving story a few weeks ago I’m certainly going to avoid this one.