Mar 10 2008
ABC Learning Lessons
I don’t want to seem stupid but I am not a smart man.
How is it that Eddy Groves former high flying corporate hero turned lame duck, on Friday the 7th of March 2008, was able to fly back into Australia and sell 12,165,301 ordinary shares for $2.1390488 per ordinary share?
Reviewing the total public share trading results for ABL (ABC’s stock ticker) for the entire trading period on Friday the data indicates that the share price never got past $1.75 per ordinary share. Who in their right mind would have paid 19% higher to purchase Mr Groves shares over those available on the stock market at a lower rate.
Possibly some back door deal done with a company/group interested in a position in ABC? If this is the case, are ordinary, off the street, shareholders allowed to do such deals?
Do any of you chief champs have any idea on the hard and fast rules here?
