Dear troyvdh,They only sold 50k shares out of a 12 Million holding, hopefully someone who deserves some compensation will get the benefit of the money
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The 50k sale was the one that took them below 5% .....that's all they have to disclose in the way of trades. For all we know the 50k followed a larger trade the same day and there could have been many trades after the 50k trade as well
The notice says nothing more than that there was 1 trade of 50k that took there holding below 5%
I'm surprised SUM has held up above 3.25 on such high volume. I was planning to buy some more but it always tends to drift between 3.10 - 3.28, I'm going to stand off at the moment if there's a chance before the report I'll go for it. Otherwise I'll not be doing along of work while refreshing ASB for the announcement on the 10th.
I'd say ACC were locking in some profits from when they brought in around $3 I think it was. Nothing to worry about unless they dumped all their shares at once =D
Interesting article on CNBC predicting NZ economy to be the 'rockstar' economy for 2014. Bodes well for NZ stocks however the bullish outlook for the NZ dollar could act as a headwind for exporters this year. http://www.cnbc.com/id/1013109
I've been told personally by someone high up in ACC that the highest paid workers in the company are the people who invest and move their shares around so if they are getting more than the CEO what sort of money are they making? Sum would be one of there safer holdings probably the best term deposit rate around aye