RE:Question filoux004 wrote: Question. Why would someone buy a PP at a premium to the trading price? Your feedback is appreciated Peace
IMHO I would think that it is to raise the price of the stock. I am not a lawyer but I believe there is nothing stopping this from beng the CEO. With the millions in shares he took out this year it is nothing for him to pay a premium on one little batch. He has 3 million at 18 1.2 at .58 and another 1,2 coming at .58. To kick in $1.3 million to protect his 70 million shares is simply logical.
Also if he bought at the 1.17 and the stock climbs he would be accused of tanking the price. This was he paid over street and actually above his last couple sales. Fair market at time the deal was cut I presume.