Chris. Any insight into why a founder of the original company is reducing his share holding? Bit worrying…
23 April 2014
Holding in Company
LightwaveRF Plc, the specialist in home automation, today announces that John Sinclair has reduced his shareholding from 9.10% to 8.72% and notified the company accordingly.
The disposal of his shareholding, which was facilitated by the company, follows agreement reached with Mr Sinclair that for personal reasons he would step down from the operational board. This follows his resignation last month from the JSJS Plc Board (since renamed LightwaveRF Plc). The operational company has engaged Mr Sinclair in a consultancy agreement to continue his involvement and utilise his technical expertise.
Hmm – seems he also resigned from the board.
This won’t do the share price much good!
Looking at the figures I wouldn’t say there is too much cause for concern. From my rough calculations it only appears to be around £25k worth from a holding of about £500k. He probably just wants to get away from all the bureaucracy and take things easy. But yes, the share price will probably take a dive today (and may provide a good topping up opportunity). Any excuse for the Market Monkey’s to walk it down eh!
I’m tempted to sell on the whistle and buy back at a lower price but is it worth the risk??????
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