Golden Prospect: Chairman Opens His Wallet – and you should too!
By Nigel Somerville | Thursday 15 April 2021
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It was announced today that Chairman of Golden Prospect, Malcolm Burne, has opened his wallet and bought 25,000 more shares at 50p a pop. Now sometimes boardroom buying is just a spoof and the amount inconsequential, but I would suggest readers take this director purchase a little more seriously.
OK, £12,500 is not an absolutely massive purchase but given that Malcolm Burne already held 956,250 shares there really was no need to buy more. And compared to his salary from Golden Prospect, which rises by 25% to just £20,000 this year, it means that he has shoved most of his post-tax earnings for this year into the company’s stock.