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MMC Contrarian’s indecision

6/08/2007

There have been plenty of insider moves at investment company MMC Contrarian lately. We’re not sure what to make of them.

In the investment game a contrarian investor is one who takes an opposing view to the generally accepted opinion at the time. When it comes to directors buying shares at investment company MMC Contrarian, determining exactly what the opposing view is seems to be a challenge in itself.

Director Ray Kellerman can’t seem to make his mind up. First he sold 51,447 shares at $1.04 a piece. Then he happily accepted 250,000 shares under the company’s executive share plan.

Chairman falls on his sword

Meanwhile chairman Simon Rowell picked up another 4,744 shares under the company’s deferred share plan on 25 July. However, just a week later, his interest in the company appears to have waned and he announced his resignation.

This strange behaviour doesn’t seem to have bothered investment group Guinness Peat Group (GPG) however. During June and July it was actively buying the stock, picking up another 2,564,650 shares and increasing its stake in the company from 5.74% to 6.75%. We've heard talk that GPG's buying interest hasn't been totally satisfied yet, either. GPG isn't known for being a passive investor and we wouldn't be surprised to see a few of its executives appointed to the MMC Contrarian board at some point.


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