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Tuesday, March 10, 2009

Rank Execs Buying Shares

It was interesting to see a number of large share purchases by execs at the Rank Group. According to ShareCast, last week the chief executive Ian Burke doubled his shareholdings in the company and this week finance director Paddy Gallagher has also bought a large number of shares.

A couple of things could be going on here and I'll speculate. It could be that they expect the company's finances to improve significantly and the share price to rise, all well and good. On the other hand though, I'm wondering if there's an inkling that the long rumored take-over could be on the cards. Guoco have been steadily raising their shareholding in the company, and it's thought they might try to take over the company. If that's the case, it could be a nice little return on those very shares.

Posted at 10:26 PM |

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