Cettire Limited

ASX:CTT

Cettire Limited

ASX:CTT
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$1.180 (-6%)
Last close price
#315
Rank
3
Held by
27
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Forum Topics CTT CTT Management

Pinned straw:
Jimmy
Added 3 months ago

Now here's a vote of confidence!!


Mr Dean Mintz, Founder and CEO, has acquired 11,436,790 shares in the Company, representing 3% of the shares outstanding, through on-market purchases.

The total consideration paid was approximately $15.8 million.

Following the purchase, Mr Mintz will have a ~33% shareholding in the Company and remain Cettire’s largest shareholder.

Mr Mintz commented: “We are relentlessly focussed on driving profitable revenue growth, expanding our global footprint, remaining self-funding and executing Cettire’s growth strategy.

I believe we are well placed to deliver profitable growth in FY25 and beyond.” 
Aaronfzr
Added 3 months ago

Interesting, but as I recall, he offloaded a LOT of stock ($27m shares or 7%) in the low $4s, now trading low $1s.

Is buying back now

a) an endorsement of future prospects, feeling stock has reached its low?

b) a cynical attempt to offset criticism that he lacked faith in the firm?

c) Ripe for an insider-trading case?

9
UlladullaDave
Added 3 months ago

He sold 20% of the company's shares at a price similar to the 3% he bought this week. I'm surprised given the audit issues raised, which it could be reasonably argued were part of the post-earnings sell off in CTT shares, that the board did not consider this to be a blackout period. More than that they had no issue with the CEO just buying like a drunken sailor on market and pushing the shares up 50% in two days.

15