Pinned straw:
Discl: Held IRL 0.86% and in SM
RTH announced way past beer o’clock today, the following Share Sale by Directors, which immediately invoked a bad DRO-Oleg-like vibe.
TLDR - looks orderly, not a DRO-Oleg saga at all ...
A pretty horrible time to be selling I thought, hence the “coming weeks” - am hoping it will add a bit more liquidity as it has been hard getting a decent chunk of volume.
Had a closer look to see at the Director Share Sales track record.
Overall Impact
1% of their combined holding - doesn't trouble me at all, they still hold 16.89% combined.
G Crispe
- This is the 3rd time old man Gary is selling - this tranche is the smallest of the 3
- Gary has sold down the last 2 tranches with Co-Founder Robert Vilkaitis, in equal shares
S Crispe
First time Stephen is selling down - after years of toil in the business, this is probably well deserved. With the much smaller quantities of shares, it does feel that young Stephen isn't being handed anything on the platter.
Chart
My top up zone is around ~$1.05, the 38.2% retracement zone from the recent run up .
This is exactly how a director sell down should be conducted. Well communicated, skin remaining in the game. This is is quite rare.
My personal rating of management has increased.