Well I didn't re-buy ant BMR shares even though they were down to 4.05p! Instead I bought more Edenville Energy shares at 0.648p and today they closed at 0.75p so already I am getting some of the money I most on BMR back! It was interesting also that someone took out a spread bet for 1M GBP on Edenville, presumably that the price will rise. My original purchase was at 1.74p so if the sp gets back there then I will be nearly tripling my investment. If the sp gets above 0.92p then I will be breaking even. As the sp has been over 2p before then it seems a reasonable target.
I also had an RNS from Redrock today saying that Andrew Bell and another director had sold some shares, always a bad sign but later in the day an email popped up explaining the situation.
Dear Shareholders and Colleagues,
You may have seen that I and a colleague sold a few Red Rock shares this week.
Those of you who have been shareholders for a while will know that each time we exercise options, we also shortly after tend to sell a few to meet the immediate tax bill. In recent years, the tax regime on options has become quite unfavourable, and we have to pay income tax and NI on the difference between the exercise price and the market price, and do it promptly.
We do try to explain, and then the next time it happens, there are again some shareholders who worry that we are showing a lack of confidence in the company and sending a bad signal to the market.
So, for the avoidance of doubt, let me clarify that if and when I am in a position to sell options in the future, it is highly probable that I will again be obliged to sell some to meet tax obligations. I will not enjoy doing it, and this will say nothing about my view on the stock price.
The options we exercised in May expired at the end of May, so had to be exercised or lost. My colleague and I are selling about half of those we recently acquired, so that our shareholdings at the end of June are higher, not lower, than our shareholdings at the beginning of May. This has also been the case with past sales following exercise of options: each time the holding of shares at the end of the exercise is higher than it was before.
There is never a ‘right time’ for directors to sell, and I do assure you of our complete commitment to and confidence in the company.
Andrew
So it seemed a reasonable explanation and the sp closed up on the day so all's well that ends well!
I also had an RNS from Redrock today saying that Andrew Bell and another director had sold some shares, always a bad sign but later in the day an email popped up explaining the situation.
Dear Shareholders and Colleagues,
You may have seen that I and a colleague sold a few Red Rock shares this week.
Those of you who have been shareholders for a while will know that each time we exercise options, we also shortly after tend to sell a few to meet the immediate tax bill. In recent years, the tax regime on options has become quite unfavourable, and we have to pay income tax and NI on the difference between the exercise price and the market price, and do it promptly.
We do try to explain, and then the next time it happens, there are again some shareholders who worry that we are showing a lack of confidence in the company and sending a bad signal to the market.
So, for the avoidance of doubt, let me clarify that if and when I am in a position to sell options in the future, it is highly probable that I will again be obliged to sell some to meet tax obligations. I will not enjoy doing it, and this will say nothing about my view on the stock price.
The options we exercised in May expired at the end of May, so had to be exercised or lost. My colleague and I are selling about half of those we recently acquired, so that our shareholdings at the end of June are higher, not lower, than our shareholdings at the beginning of May. This has also been the case with past sales following exercise of options: each time the holding of shares at the end of the exercise is higher than it was before.
There is never a ‘right time’ for directors to sell, and I do assure you of our complete commitment to and confidence in the company.
Andrew
So it seemed a reasonable explanation and the sp closed up on the day so all's well that ends well!
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