In Thursday's paper we pointed out that Arq Group chief Martin Mercer had sold a third of his holdings a month before a downgrade slashed the company's share price by almost 40 per cent. Which is never a good look.
And it turns out Mercer is a repeat offender. He sold a total of 267,971 shares for $970,055 in May 2018, again to satisfy tax obligations. That was three months before the company's 1H18 result showed the company flipping to a net profit after tax loss, its share price plunging 31.8 per cent by market close.
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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
