dear superman
just to update you, it was announced in the financial post (toronto) this last week that sadler had sold another (approx) 276,000 shares between $55 and $56.25. at that time he was left with (approx) 290,000 shares.
the financial post didn't include that sadler still has OVER one million options at various strike prices. i have been informed that he still has over 1,300,000 shares and options in geac.
in other words, he's still "invested" in the company.
personally, if i were him, i'd still be selling. i wouldn't want all of my personal net worth tied up in one company. ever wonder where he's putting his money? i'd guess that it's in open text.
with sadlers track record, if i were him, i'd want to be involved at a board level (ie. not in operations) with 3, 4 or 5 different companies, and i'd want to have a stake in all of them.
oh yeh, one other thing. if i were sadler and i still wanted to get out of some more shares to diversify my portfolio, i'd be cooking up another big acquisition to generate more interest in the stock so i could get out when there is some strength in the stock. and with the markets backing off, it's better now than it has been in a while to make an acquisition. |
