12-Sep-2014 Dividend Announcement - ASIY

[SrirangaVeteran]

ASIA SIYAKA COMMODITIES PLC
Company ID: - ASIY
Date of Announcement: - 12.Sep.2014
Dividend per Share: - Rs. 0.18 per share / Final Dividend
Financial Year: - 2013/2014
XD: - 23.Sep.2014
Payment: - 02.Oct.2014
Share Transfer Book Open

[First Guy]

Interesting. Why is/are the director(s) selling? Hope it's for personal reasons

[StopLoss]

I've been buying ASIY after a look at their figures, which seem promising, so the question raised regarding directors' sales was a bit worrying.

This is what I came up with:

Since Lanka Commodity Brokers made the mandatory offer last year they have sold 9,120,644 shares at an average price of 3.42.

This is a bit more than 11% of the 81.6 million shares they bought on the offer (@ 2.80), and less than 5% of their total holding.

Is this just them taking a 'bit' of profit?

[slstockVeteran]

It maybe due to a public free float issue. I would not jump in and buy a whole heap until the selling settles down.

I've been buying ASIY after a look at their figures, which seem promising, so the question raised regarding directors' sales was a bit worrying.

This is what I came up with:

Since Lanka Commodity Brokers made the mandatory offer last year they have sold 9,120,644 shares at an average price of 3.42.

This is a bit more than 11% of the 81.6 million shares they bought on the offer (@ 2.80), and less than 5% of their total holding.

Is this just them taking a 'bit' of profit?

[StopLoss]

Thanks slstock, will go slow on the buying for a while.

By the way, I'm an amateur, trying to get a hang of the basics; willing to crunch the numbers but interpretation is another matter.  

At the moment only 6% of the shares are in the public free float, but looking at trades over the past year on more than half the trading days over 100,000 shares were traded, with the price moving from 3.00 to 3.50.

My question to the senior members out there is, what's wrong with this stock? Took my numbers to my broker and got a lukewarm response