DYOR
...It's nice when Directors have faith in their products and they buy shares, but we're less keen when they sell them. However, as long as it's a few here and there, and there is a strong order-book and profits, dividends etc...who can blame them?
However, here we appear to have an instance of profiteering for no better reason than a profit is a profit, etc.
Just recently as others will have noticed CTT directors bought shares, OK, it was at a very low...but that's not all...Oh No!
Just yesterday we read that two Directors have sold shares - and in one instance it looks like a good profit was taken, in about a month - yet the reason the sp rose was not due to Good News..(which is in short supply, from where I sit)...it was entirely FTSE movement and tha fact these few Directors had bought...giving some comfort for CTT investors (-that all was OK.)
These sales make (the future) look less certain and with interest-rates so low....
-is there any room for a new expensive Money-lender/Bank...?
Maybe that is the reason for the selling - Directors are concerned the future is far from rosy...?
Oh deary.

anybody got their silver locked in this?, cmon this is agony aunt thread!

Not me.

Sub-prime lender Cattles shares frozen as auditors scrutinise books
Failure to report annual results leads to suspension.


Cattles, the sub-prime lender which suspended six executives in February, had trading in its shares stopped on Thursday after failing to hit the deadline to report its already delayed annual results.

The company said its auditors were continuing to trawl through its books and could not sign off its accounts in time for it to report results by April 30.

Cattles has already delayed reporting results from the end of February, after discovering an 850m blackhole in its accounts.

The company, which lends to customers with poor credit histories, said it would not have been able to publish the figures by the end of April, and so it requested for trading in its shares to be suspended.

Cattles is also in talks with a syndicate of banks led by Royal Bank of Scotland which have loaned it 500m. Unless RBS and the rest of the group's creditors agree to roll over the credit line, which expires in July, Cattles may fall into administration.

Cattles asked accountancy firm Deloitte to review its books to work out what level of provisions it needs to take. Deloitte has completed the ask and PricewaterhouseCoopers (PwC), Cattles' long-standing auditors, are considering the numbers.

One of the issues delaying Cattles reporting its results is that PwC may want discussions with the banking syndicate over a refinancing to be finalised before it signs off Cattles' accounts as a going concern.

Cattles said it requested a suspension "in order to avoid a disorderly market and to protect investors pending publication of its audited report and accounts for the year."

The company shocked the market in February when it announced that six senior executives, including its finance director, had been suspended, amid accusations that the rest of the board were being supplied with "inaccurate and/or incomplete information".

An investigation by City law firm Freshfields Bruckhaus Deringer and Deloitte estimated that the black hole in the books stands at some 850m -about 25pc of the company's loan book.

More than 1,000 jobs have been cut from the main offices at Batley, West Yorkshire, Hull and Nottingham, with more job losses seen as inevitable.