smokescreen

2686 days ago

Neil Ritson and LGO Directors wear hair shirt "we are all in it together" - its a smokescreen

In the most recent statement from LGO Energy (LGO) much was made about how the board was showing restraint at the corporate trough. Shareholders may have seen the shares collapse from 6p+ to just 0.11p but "we are all in it together". Nope! This is a smokescreen.

3594 days ago

Quindell – Small Scale Director Share Purchases mean Jackshit – In fact they are a sell signal

Rob Terry has today announced that he has bought £31,667 worth of shares in Quindell (QPP) at £1.90. Yesterday the new CEO bought a few shares. These purchases are all PR – designed to restore investor confidence in shares that are tanking. It is a smokescreen. This is a sell signal and here’s why.

£32,000 is peanuts for Terry. Remember that in 2013 Rob earned £1.32 million (including a £720,000 bonus). In addition as disclosed in the accounts “During the year, the Group made sales of £1,000 to, and purchased goods and services totalling £77,000 and fixed assets of £90,000 during the year from Advance Data Simulations Limited, a company controlled by R Terry.”  I have no idea what all that is about but I suggest to you that £32,000 is small beer for Terry.

We have been here before.