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CEO PURCHASES OVER 5 MILLION SHARES @ R1.70????

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Contributor
He knows something that all shareholders hope to know!!!
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21 REPLIES 21
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Super Contributor
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Not applicable
He is obviously not toooo worried about the impending legal showdown with investor Joe Modibane, who is suing SacOil for R67.2m for allegedly reneging on an agreement to sell him shares.
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Frequent Contributor
I say buy!!!! buy as much as u can
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Frequent Contributor
SIMON what are your thoughts on this one??
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Super Contributor
they are losing money, why would you want it?
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Frequent Contributor
Than explain why the ceo would purchase 5 million shares at that price?? Obviously they will release some info within the next few weeks to justify that.
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Valued Contributor
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Super Contributor
maybe and maybe not, but risky stuff - he would not be the first CEO to buy at the wrong time...
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Super Contributor
- remember Jeff Levenstein of Regal Bank ? - chased up the share price with the company's money,or something stupid and illegal.
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Regular Contributor
If they do, then the CEO will be guilty of insider trading. If they don't, then the CEO is a retard. Eitherway, the answer isn't a good one. Following insiders buying patterns is a losing strategy.
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Regular Contributor
As I understand it the processs of declaring Directors Dealings prevents Insider Trading - the whole world can see if a Director bought or sold. So no, this would not be insider trading...
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Super Contributor
- not entirely correct - directors also have a duty to report any information that could effect the Coy's share price ,up or down .
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Super Contributor
How many shares does he own already? And is he paying for it or is it some company bonus of sorts?
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Super Contributor
Remember, directors buy shares with a long term view. So, if you want to follow the CEO, then u too should have a long term view. This share could still rocket (based on oil findings) but I think the market needs more solid info (e.g. real profits) before it does this.
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Super Contributor
He made a boo-boo, although the share picked up since 14 Oct to this all time high seemingly just to show that he can buy if he wants to. He also bought high R4 million's worth at 23c.
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Super Contributor
I heard through the grape vine that this share is going to R5.00 soon after some announcment. Got no shares and not planing to buy any.
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Not applicable
Do we know when to expect such an announcement?
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Super Contributor
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Super Contributor
Sold few days back, was looking to come down strong. But will wait and see....
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