10.4m shares on the offer side at 1.5c to sell,
97k shares on the bid side at 1.4c to buy,
3 big sellers lining up one after the other to feed any buyer at 1.5c.
Interesting.
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ENERAL: SEA: Directors sell shares on undertakings to Takeovers Panel 01:26p.m.
SEA
26/01/2016 13:26
GENERAL
NOT PRICE SENSITIVE
REL: 1326 HRS SeaDragon Limited
GENERAL: SEA: Directors sell shares on undertakings to Takeovers Panel
NZX / MEDIA RELEASE 26
January 2016
Directors sell shares on undertakings to Takeovers Panel
SeaDragon Limited (NZX:SEA) has received a number of enquiries from
shareholders regarding the sale of relatively small parcels of shares by
entities associated with Ross Keeley (former CEO and former director) and
Stuart Macintosh (current director). SeaDragon is not involved in those
transactions. Mr Keeley and Mr Macintosh have advised the company that the
Takeovers Panel has required the sale of approximately 7.8 million shares
that were acquired in the rights offer process completed late last year, due
to an inadvertent breach of the Takeovers Code. Mr Keeley has also advised
the company that he has sold a small number of SeaDragon shares to realise
cash to invest in his other business interests.
Both Mr Keeley and Mr Macintosh have confirmed their on-going commitment to
SeaDragon and they have advised that they will both retain ownership
interests in SeaDragon following these share sales. Any further enquiries
regarding these transactions should be directed to either Mr Keeley or Mr
Macintosh rather than to SeaDragon.
Your comments are typically mischievous Balance.......... https://www.nzx.com/companies/SEA/announcements/273993
Stuart and Ross both made their continuing support for SeaDragon very clear publicly back in November - well, it appears to me that they did.
I'm sure Ross was referring to the number of shares he still holds when he mentioned about selling 7m. And he's right - it was a small number.
Now that's all been cleared up - I suppose you'll now be clamouring to buy back in?
http://www.nbr.co.nz/article/seadrag...0Last%2520Call
With the 11m+ overhang Ask at $.015 it's hard to see this going anywhere +ve anytime soon. You'd think the Directors would have a more efficient method to exit their shares without hobbling the ordinary shareholder? Surely this will go lower and pull down the Asks if they want out so badly.