Mark Blandford, founder & deputy chair of sportingbet, has just sold 8
million shares at 31p. He retains 17m or 10% of the issued stock.
No doubt there were pressing reasons such as "needed cash to pay school
fees" or "wanted to boost the issued capital and improve trading in the
stock" and so on. There always are plausible reasons for these sales.
Cynics might ask why the founder is selling at a price which the directors
themselves, in their announcements, consider to be a gross undervaluation
brought about by Evil Kineavel and others' "unfounded" bear raids.
I suggest a more rational explanation for these sales is the impending cash
calls arising from earn-out deals, which will put a strain on the balance
sheet and increase the risk of liquidation.
million shares at 31p. He retains 17m or 10% of the issued stock.
No doubt there were pressing reasons such as "needed cash to pay school
fees" or "wanted to boost the issued capital and improve trading in the
stock" and so on. There always are plausible reasons for these sales.
Cynics might ask why the founder is selling at a price which the directors
themselves, in their announcements, consider to be a gross undervaluation
brought about by Evil Kineavel and others' "unfounded" bear raids.
I suggest a more rational explanation for these sales is the impending cash
calls arising from earn-out deals, which will put a strain on the balance
sheet and increase the risk of liquidation.
