I was curious about the date & price the CEO sold his 6 million shares & checked this regulatory filing of the sale. He sold his  6M shares on Nov 12 at average share price of $.9380.

 

While going through the filling I found a discrepancy between the company news release & the filing report. According to PDN new release it states that " He continues to hold approximately 16 million shares."

 

But the filing states the closing balance as 13762237 shares only.  There is a huge difference of 2237763 shares.

 

So based on the filing we can assume that he had total of 19762237 shares & he sold 6 million shares. So according to the filing data he sold 30.36 % of his position more than we had calculated earlier.

 

Company should pay attention on the details  when they issue a new release. Either the news release is off by 2.2 million shares or the legal filing. Anyway this discrepancy should have been avoided.

 

On the buying side One director bought 300000 shares at $.82 & the second bought 100000 at $.8325. Both bought after the sale by CEO & at a lower prices.

 

 

Transaction ID Date of transaction
YYYY-MM-DD
Date of filing
YYYY-MM-DD
Ownership type (and registered holder, if applicable) Nature of transaction Number or value acquired or disposed of Unit price or exercise price Closing balance Insider's calculated balance  
Insider name: Borshoff, John  
Insider's Relationship to Issuer: 4 - Director of Issuer  
Ceased to be Insider: Not applicable  
Security designation: Common Shares  
        2171323 2012-11-12 2012-11-15 Indirect Ownership :
Aylworth Holdings Pty Ltd
10 - Acquisition or disposition in the public market -6,000,000 0.9380   13,762,237 13,762,237  
   
Insider name: Crabb, Rick Wayne  
Insider's Relationship to Issuer: 4 - Director of Issuer  
Ceased to be Insider: Not applicable  
Security designation: Common Shares  
        2172717 2012-11-15 2012-11-19 Control or Direction :
Rick Wayne Crabb and Carol Jean Crabb
10 - Acquisition or disposition in the public market +300,000 0.8200   4,798,050    
   
Insider name: Shumka, Donald  
Insider's Relationship to Issuer: 4 - Director of Issuer  
Ceased to be Insider: Not applicable  
Security designation: Common Shares  
        2172599 2012-11-15 2012-11-16 Direct Ownership : 10 - Acquisition or disposition in the public market +100,000 0.8325   200,000 200,000  
   
 
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