Adrian Gore moves to calm fears over Discovery shares

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South Africa Headlines News

CEO addresses market concerns over form of hedging to secure floor price

At a hastily convened teleconference, Discovery Group CEO Adrian Gore moved to address market concerns about a recent hedging contract involving millions of his shares and the sale of shares by a former executive director.

Gore’s so-called collar — a form of hedging that underlines an equity trader’s doubt about the short-term prospects of the stock — involving 8.8-million of his shares, as well as the sale of R116m worth of shares by former executive director Herschel Meyer, came amid low sentiment in the company’s share price.

 

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And calm us about this too please!

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