More Stock Sale Seen At Parkson

Sell when the share price is high!

Isn't this one common saying heard?

Take a look at this snip taken a Bursa website announcement announced on the 11t Aug 2009.

It looks like the owner is selling quite a fair bit.

And the remarks given in that announcement..

• The indirect interest after change comprises 343,910,310 Shares and RM228,800,000 nominal value of 3.5% redeemable convertible secured loan stocks 2007/2010 ("RCSLS") convertible into 57,200,000 new Shares at a conversion price of RM4.00 nominal amount of the RCSLS for every one new Share in Parkson Holdings Berhad. The percentage of indirect interest excludes the RCSLS.

So these loan stocks were converted into new shares at a conversion price of rm4.00 and since the share price is 'high' now compared to the months when Parkson was buying back their shares on a daily basis, these newly converted loan stock shares are sold for a tidy profit.

And when you compare the earlier disposal of shares mentioned in an earlier posting, it really seems like life is really grand.

However, if the shares are not sold for a tidy profit, what could be the reason for so many of these share disposals?

How my dearest?

Would You Buy Parkson Holdings?