Rubicon

[biker]

I've read all the comments but I can't get the words 'ulterior motive' out of my head!

I feel the same ari and in this case the ulterior motive could be very positive.
They have obviously reached some agreement or arrangement and must under disclosure rules announce it but the rationale behind it will come later.
They are ‘finishing their roles’.
The anouncement is so brief it speaks volumes.

14 August 2018 – Rubicon announced today that Luke Moriarty, the Company’s CEO (and one of its Directors), and Company Secretary/CFO Mark Taylor, have given notice of their intention to finish their roles with the Company and will leave later this fiscal year. More information will be provided at a later date.

[mikeybycrikey]

The anouncement is so brief it speaks volumes.

I feel like the announcement could've been a little longer just to remove any speculation about what's really going on. It's not like they have to pay by the word or anything.

I'm guessing it's a good thing but more certainly wouldn't have gone amiss.

[Balance]

Moriarty Superannuation Fund 2.71m shares
Moriarty Family Trust 0.79m shares
Taylor Superannuation Fund 1.09m shares


might be a small selldown/buying opportunity. However given the offmarket sale that went through a week or two back for 1.5m around 30c, I don't these would take too long to be soaked up.

Actually, was 5m shares at 30c?

[Well Endowed]

Actually, was 5m shares at 30c?

It was, - apologies should've had a '$' on that. yeah it was 5m shares, total value $1.5m, definitely shows the demand there. Would think any selling by former directors should manage to find a home

[Balance]

https://www.nzherald.co.nz/business/...ectid=12108995

Gaynor's perspective on Moriarty leaving.

"Rubicon shareholders have suffered huge losses while directors received total fees of $4.3m and Moriarty received $7.2m in salaries, bonuses and retention payments".

Been a nice bonanza for Luke for sure!

[iceman]

Thanks for the link Balance. A good article by Gaynor. Agree with him on RBC needing a bit of a clean out at Board level as we head towards a much brighter future.

[Xerof]

There's a nice phrase which sums things up nicely for recent long-serving Rubicon directors and management - lifestyle company. One more director to go, held in by historic connection, which now has no relevance at all to the Company's current situation.

And Gaynor has said nothing more than the sentiment that has been expressed here about the past performance. Pity he's opening old wounds for long suffering shareholders. Seems his dwelling on the past has prompted a bit of selling today, perhaps from that quarter.

I'm looking forward, have been accumulating since initially entering in the 19/23 area, and see a bright outcome for my investment

[ari]

Really just a re hash of a previous Gaynor article...I get the distinct impression that he is not in favor of RBC....he may well be right! https://www.nzherald.co.nz/business/...ectid=10794164

[winner69]

Wonder who you guys will ‘blame’ when Arborgen fails to live up to its lofty expectations.

[Well Endowed]

There's a nice phrase which sums things up nicely for recent long-serving Rubicon directors and management - lifestyle company. One more director to go, held in by historic connection, which now has no relevance at all to the Company's current situation.

And Gaynor has said nothing more than the sentiment that has been expressed here about the past performance. Pity he's opening old wounds for long suffering shareholders. Seems his dwelling on the past has prompted a bit of selling today, perhaps from that quarter.

I'm looking forward, have been accumulating since initially entering in the 19/23 area, and see a bright outcome for my investment

agreed, very happy with my entry point and feel RBC is a pretty decent long term hold.