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本帖最后由 Hetbert 于 2018-10-16 17:59 编辑

https://www.afr.com/brand/rear-w ... res-20181015-h16nga
Shareholders were already leery about A2's new chief Jayne Hrdlicka selling every share she could the moment she could. So we shudder to think how queasy they are now that several other dairy insiders have also sold down.
Back in September, Hrdlicka offloaded the entirety of her 357,232 share stake days after it became tradeable, netting $4 million in the process. The money, she said, went to fund tax liabilities and obligations involved in a recent home purchase.
Perhaps that's fair enough. But she hasn't been alone. This month, A2 director Peter Hinton sold 25,000 shares, some 4 per cent of his total stake, pocketing $272,617.43 ($NZ297,856.28) in the process. And four days later fellow milk company Synlait, which supplies infant milk formula for A2, filed its own director sale notice. Founder John Penno, who stepped down as CEO in August but remains on the board, sold 1 million shares, for $10 million ($NZ11 million).
A2 is down by a fifth of its value in the past month, while Synlait has shed nearly 30 per cent. That's mostly because from January 1, new Chinese laws will come into effect that govern cross-border e-commerce, which is one of the main ways A2's infant formula (made by Synlait) gets into China. There's plenty of investor uneasiness about what these new laws mean. Some argue that the A2 English label product sold in China doesn't have the registrations required, so unless it gets a grace period or adjusts quickly, sales in China could fall markedly. A2 has welcomed the laws and entirely disputes there'll be any loss of sales. But we imagine the message would be heard a bit more clearly if its insiders weren't dumping stock at the same time. |
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