Directors of embattled Prospa buy shares ahead of AGM vote


The three Prospa non-executive directors facing re-election at next week’s annual meeting, including chairman Gail Pemberton, have been buying up shares in the company amid a stock rout triggered by the small business lender’s disastrous profit downgrade on Monday.

With the share price down 46 per cent in four days and close to half its June IPO price, an ASX release on Friday reported that Ms Pemberton had acquired $100,000 worth of shares on Tuesday – the day after the company announced it would miss its prospectus earnings guidance by 60 per cent.

Fellow board members Fiona Trafford-Walker and Avid Eyal have picked up more than $400,000 worth of shares between them since the downgrade.

Prospa chairman Gail Pemberton was buying the stock this week.Credit:Louie Douvis

Company founder and co-chief executive Beau Bertoli also dipped in, buying $76,000 worth of shares on Wednesday and Thursday.



Business

Related posts

Make a comment