Friday, November 30, 2012
Olam: non-executive and independent directors Robert Michael Tomlin and Michael Lim announced open mkt share purchases, each buying 200k shares at $1.55/sh and $1.545/sh respectively. Both directors had nil shares in Olam prior to this purchase. The insiders’ share purchases, coupled with Olam’s quick and firm rebuttal to short seller Muddy Waters’ negative report, may further bolster investor confidence in the company. The stock extends its recovery, adding 0.1% to $1.575.