Share manipulation?

Non-Executive Chairman : B Kantor
Number of shares : 73 500
Price per share : R9.2845
Date of transaction : 29 March 2019
Value of transaction : R682 410.75
Class of shares : Ordinary
Nature of transaction : Purchase, on market
Nature of interest : Direct Beneficial

I have long held the view that key individuals within Phumelela have bought shares at inflated prices to either support a certain level, or recently to end months/quarters at an artificially inflated price. This has traditionally been the domain of the now departed du Plessis, but there were always regular tradings done by among others Jooste and Kantor.

On Friday 29 March, the last trading day of the quarter, Kantor purchased 73500 Phum shares at an average price of R9.28. This had the effect of closing the share out at R9.92. Interestingly, this was also the day that the announcement about the amendments to the Gauteng Gambling Act was announced, a potentially very negative scenario for Phumelela. The share has weakened considerably the following week with it trading at R7.00 yesterday, resulting in a paper loss just under 25% for our Investec Boykie. The question anyone with half a brain has to ask is why Kantor is not buying shares at this lower level should he have the view that this share has legs.

Perhaps we will need to wait for the next strategic date to find the answers to this little mystery. It is clear to me what is happening here.

......do these okes have so much cash that they can turn it to ash.....:huh:

Indulge me! I cannot resist waxing philosophical when I read this thread :

There are two things in life that you should avoid if at all possible :

FAME & FORTUNE

In the days before digitisation FAME was almost (but not quite!) bearable. Nowadays it must be insufferable. I can go to the supermarket unshaven and dressed in a ragged T-shirt wearing slippers. Nobody cares even if they notice. Just another impoverished old fart out collecting his tin of cat food.

I doubt whether Markus Jooste can do this without any number of people pointing and whispering. And craning to see what is in his shopping basket. Was it really worth it for the short period that he strutted around accompanied by all his fawning pilot fish?

That's the fame part and you are welcome to my share.

If you deal with FORTUNE responsibly it can certainly smooth your way through life. The problem lies with the following :

What is enough?

Money is seductive and enough is seldom enough. I have worked in financial services since 1981 & clients often ask me : 'How did so-and-so go bust?' The answer is simple :

Success breeds a certain type of arrogance. A belief that everything you do turns to gold. So people tend to 'bet the whole farm' with each successive step up the ladder. Ask Christo Wiese!

I cannot recall who told me that you can only wear one pair of shoes at a time (I lean more towards slippers) and eat 3 meals a day. We all believe the 'high life' is the way to go but if you have ever stayed in a 5 star hotel the novelty normally does not take more than about 48 hours to wear off. After that you crave an apple rather than yet another over complicated, over priced meal.

I think that's why many of us are addicted to gambling in one shape or form. That rainbow is always just out of our grasp. But it's a lot of fun and an endless challenge chasing after it! Thank goodness I was never born risk averse.....life would have been pretty boring and I would still probably end up in an unfamiliar bed contemplating my last minutes......

.....Garrick I doubt that the king of original share manipulation hardly knows where the local Woolies is let alone go shopping there so online shopping must be a Jooste godsend....and if he is hiding out in some 5 star establishment is not eating from the room service menu for fear that some of the kitchen staff have been robbed of some form of investment in his defunct empire and are more that spitting on the plates....as for the unfamiliar beds ...a once close ex-Skelmbosch acquaintance tells me that 3 of his homes are almost exact replicas as far as the aesthetics and furnishing goes....

Garrick you are so correct People amaze me in their greed for money
What is enough?
For some there is never enough