They remain well below the initial public offering price of $1.25 achieved when Moa floated on the NZX in 2012. Moa Group executive director David Poole, who heads up the brewer's Australian sales team, has been buying shares on market in the company's recent share rally which prompted a 'please explain' from the stock market operator today. In a letter published to the NZX, Moa's chief financial officer Geoff Copstick said the Blenheim company "continues to fully comply with all NZX Listing rules including the continuous disclosure of material information." Shareholder notices to the NZX show Poole bought 23,019 shares for $31,323 on July 12 and 127,000 for $81,142 on June 29. Poole is also a related party of Moa's cornerstone shareholder, Business Bakery which owns 16 per cent of the brewer.

Source: New Zealand Herald July 13, 2016 04:53 UTC