CTI chariot limited

managing director's share trades

  1. 146 Posts.
    The MD, Rob Horlin-Smith, needs to take a look at himself if he wants to inspire investors to buy this stock.
    1) He posts a change of interest on 19 August that includes a sale of $338,271 worth of shares back on 17 May! 3 months after the event - please!
    2) Previous change notice on 9 March was for a sale of $780,000 worth of shares on 5 February - 4 weeks after the event. There does not seem any concern about keeping the market informed on a timely basis of possible negative news.
    3) He has purchased $1,806,212 worth of shares during the period leading up to the announcements on the progress of the Datafast merger and the release of the Chariot preliminary final results. It only takes 2 days to tell the market about this trade - funny about that timing difference. According to the 2004 Annual Report Corporate Governance section, the company share trading policy states that the purchase and sale of company securities by directors and employees is only permitted during the 30 day period following the release of half yearly and annual financial results to the market.

    Perhaps he needs to be sent a copy of the ASX listing rules and a copy of his own company's share trading guidelines.

    I hold CTI.
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