>> Please ask about why no further insider purchases? Thanks.
One reason there have been no insider purchases is because a whole bunch of options were just repriced on or about December 16, 2002, as stated in the last 10-Q. If I'm holding 100000 options that just got repriced to $.70-$.80 a share, I have less of an incentive to be buying shares on the open market. The relevant passage from the 10-Q is:
"During the nine months ended September 30, 2002, 1,365,181 share options were cancelled pursuant to the employee stock option exchange program. This voluntary program offered eligible employees a one-time opportunity to exchange stock options for new options at a grant price equal to the fair market value of Trenwick common shares on the new grant date, which is expected to be on or about December 16, 2002."
I agree Stuck,
"Tune in next week" boys and girls, to see what the continuing saga of The TWK Adventure Series.
Here's Some thoughts if you call:
I would start off with somthing like "Hi Alan, this is Stuck Pig, we're a group of current Trenwick investors, do you have a moment for a few questions?
This will put him at ease that it shouldn't take too much time. In the past, I don't think they received that many inquiries (Hence no full time investor relations person). It's not that often that we can talk directly with the "hands on People."
I would also start of with the "easier questions", also to get his mind focused.
If you print out the questions, triple space them gives you enough room to scribble answers.
Also, I try to have my questions in a form similar to the way I would ask it verbally.
When he answers feel free to "engage" him in conversation, even if it leads to some insignificant area, like the weather. You can always return to your list at any time and it will kinda get him to open up a little.
I'm usually trying to listen to the answer (while scribbling his ans), to be sure he understood the question and also to try and hear his gist.
Anyways, thats my reflection, hope it helps.
By the way, you'll do fine, it's actually kinda fun.
I don't have time right now, gotta get some other stuff done, but I'll post some quest. that I was going to ask.
Also, I wanted to come up with a list of "clarifing questions" on things we already asked.
YOu can pick through and see which ones your comfortable with to discuss.
That's just it Jad,
when the board does the DD and then gathers intelligent questions, then gets the access to TWK for answers, we are supplying ourselves with not just almost analyst level coverage, but getting that inside flavour through one to one communication.
Far superior to any PR machine.
This is how a board is supposed to operate in an ideal world. Mind you, we have to endure clowns, but ignore helps (until we start replying to them).
Next up: Mr. Alan Hunte, CFO of TWK.
Tune in next week, you don't want to miss a single episode........
he could be creative and slip some tidbits of good leaning out , come on now he knows now they are not going BK, where in nov I remember that word coming out . Now is different. He knows the company is going to be ok. He could give us progress reports on actuaries leaning on the good side he knows! He could put out reports where sales are up in some areas. Come on now play the Game! He could get together with his company heads and demand a report of five good positive things that have happened in the last month at their divisions. Then he could glean the juicy stuff and relese it .the stock price would go up. He does'nt care about the stock price right now . that is not on his priority right now. But if his next check was connected to the price of the stock by some ratio you would see how fast our news would come and how fast the price would go up!!! Send Ciggy over there he will show him how to do it. I am just a dam mercedes salesman and I could do it!!!! Good DAY!!!!!!