An article on share advice website The Motley Fool notes that AMA's non-executive director Simon Moore has picked up 1,125,000 AMA shares through an on market trade on 5 June. Moore paid a total of $744,412.50 for the shares which equates to an average of 66.2 cents per share. Moore, former head of Carlyle Group Australia, runs The Myer Family Investments office and Colinton Capital Partners equity house.
The articles goes on to say: "AMA Group’s shares fell heavily earlier this year after the release of a very disappointing half year result. Despite posting a 32% increase in half year revenue, the company delivered a loss after tax of $11 million. This compares to a profit of $10 million in the prior corresponding period. Judging by the sizeable purchase, it appears as though this director is confident that the worst is behind the company now."
Myer Family Investments initially took a 1.49 per cent holding in late 2018. When AMA changed its share structure to raise acquisition collateral for Capital SMART, after taking its entitlement offer, Colinton Capital Partners held 24.48 million shares by October 2019 .