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I’m a little surpised at the extent of Connaughts (CNT, 11p) fall from grace, but not by its direction.
Founder and CEO Mark Tincknell sold a third of his holding at close to four pounds (375p) not so long ago.
He, or was it the brokers who placed the stock, claimed it was ‘to satisfy institutional demand’.
Just serves as a reminder to look at what directors are doing with their own money.
Close ‘STRONG negative view on Connaught with a 96% absolute and relative (to FTSE 250) return.
See our note of April 30th 2008 here
See also todays FT report of an FSA Inquiry into Connaught. Maybe they should start with a discussion with Tincknell.
( http://followthedirectors.co.uk/2008/04/30/connaught-directors-selling-vs-eaga-directors-buying/)
