From Ernst Burger*
Dear Alec,
I own a couple of Famous Brands shares and remain happy with their performance, business prospects and leadership of the business. None the less, I keep an eye on proceedings and have noticed via SENS that the family seems to be selling shares regularly. In the attached spreadsheet I tally sale of shares for directors, using SENS information since the start of 2014 and then group sales per director to summarise the SENS information. The summary substantiates my suspicion that the Halamandres and Halamandaris families are selling stock regularly. Perhaps it would be interesting for one of your co-workings to ring them up and ask a friendly question as to why they’re selling? On the face of the data we have no reason to suspect any foul play or bad faith, but there may be an interesting story behind their sales.
Notes:
- Not all SENS releases are perfectly clear about who is selling, e.g. P Halamandaris could be either Panagiotis or Peter. I indicated in my spreadsheet where I made assumptions in this regard.
- In the SENS page of my spreadsheet I tried to compensate or at least indicate where Kevin Hedderwick, Darren Hele and NS Richards handled share options. None the less this information may skew summary numbers for specially Kevin Hedderwick somewhat incorrectly.
Ernst Burger
*Ernst is a member of the BizNews community
