Sale catches right price

Former Pod managing director Mark Bilton sold almost all his shares in the listed textile company just days before the company delivered a profit downgrade at its annual meeting.

But Pod executive chairman George Gould said last week that Bilton, who left Pod on October 7 after two years in the job, was not in a position to have known any sensitive information about the company. Bilton sold 122,000 shares from November 18 for an average price of $1.054.

Shares closed at 70c on Friday, after plunging to 75c after the downgrade on Thursday.