Pinned straw:
Disl: Held IRL 3.36%
More WTC Director on-market buying was reported today. Much smaller parcels than CEO Zubin’s ~$1m investment, but still decent investments.
Absolutely smells like a board-confidence exercise.
Still missing is our man Richard himself - hopefully saving himself for the last big bang show of confidence.
@jcmleng RW has such a massive holding and, at c. 70 years of age, has signalled his intention to continue his progressive selldown. So, I am not holing my breath.
For me, the vote of confidence from RW is that he finds the SP so low that he cannot bring himself to sell any at these levels. My bet it that this is what will happen, at least until some kind of "new normal" is established,... whenever that might be.
My initial thought was that these "Independent" directors may have their independence at issue, but that's ok, skin in the game is good. Then I looked at the rates (below) and I don't think there is any issue about their independence or they effectively have skin in the game. It's a non-issue to me.
Page 115, FY25 annual report:
