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Another insider purchase from Kernel management, Equities News - EquitiesPoland.pl
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Article

Another insider purchase from Kernel management

TAG'S: KERNEL, Food and Drinks Industries

According to the official information released on the company, Kernel announced that according to Art. 160 of the Act of Trading in Financial Instruments, company notifies of purchase made by the company controlled by a manager of the Kernel group of companies. The purchase was made for a total of 15 000 shares at an average price of 29.2 PLN per share on March 31, 2014. This is the third purchase made by company’s management over the course of past 2 months. 226 652 shares were purchased at PLN 27.8 per share on March 7th and 50 000 shares were purchased at PLN 23.0 on March 18th.

According to Alex Morgun, financial analyst of UkrAgroConsult, Kernel share price dropped by 19% over the past 2 months, with average value of PLN 31.52, while hitting its all-time low of PLN 23.20 per share on April 12, 2014. We attribute sharp decline of Kernel price per share to decline in prices for key agricultural commodities, produced by Kernel in 2013, with simultaneous growth in price for raw materials, which led to poor financial results for the year. In addition to these factors, most recent political and geopolitical circumstances surrounding Ukraine led to decline of its ratings, as well as ratings of companies operating within its borders.

2014-04-06



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