Computer Warehouse Groups Shares were down 35 percent in 2015 and the firm reported a loss of N1.79 billion for Group operations, but that didn’t stop the Directors of the company from selling 146.8 million (by volume) worth of shares last year.
Data from the firm’s financial statements for 2015, shows that the top 3 directors Austin Okere, Abiodun Fawunmi and Philip Obioha now own 23.37%, 18.06% and 18.06% of CWG respectively, down from 25.66%,19.83% and 19.83% in 2014.
Private Equity (P.E) firm Aureos Africa Fund LLC (Abraaj Africa) still maintained its 20 % ownership in CWG, while other investors or bag holders as we like to call them at Nairametrics increased their ownership of the company to 15.94% from 10.11%.
CWG stock started 2015 at N4.11 a share and ended the year at N2.67 per share meaning the Directors definitely sold shares at a loss.
![TNS Event](https://i.ibb.co/8cBH227/thumbnail-TNS-GOOGLE-RESIZE-300x250.jpg")
Hmmm. At least they get to meet NSE guidelines on free float. So many companies on the board do not have sufficient float so their share performance hardly tracks their corporate performance. Given all the profit warnings they issued through the year, the buyers of their shares must know something the rest of us don’t.