Good morning, it's Paul here, I'm on duty today.

There's literally nothing on today's RNS within my remit. So instead, I'll circle back to some results on Tuesday which I've still got in my pending tray - please see the header above for tickers.

Estimated completion time of today's report: 5pm.

Update at 16:39 - today's report is now finished.



Motorpoint (LON:MOTR)

Share price: 204p (down 15% today, at 11:12)
No. shares: 93.4m
Market cap: £190.5m

Founder selling shares

Last night this car supermarket announced that the founder, David Shelton, intended to sell at least 8m shares, to fund a divorce settlement. 

An update this morning says that 11m shares have actually been sold, at 200p - this is quite a steep 17% discount, to the c.240p price that sells were going through at last night. Note that the company itself bought back 2.575m of the disposal.

Mr Shelton's remaining shareholding is only 2.4m shares, or about 3% of the company.

My opinion - divorce is one of the better reasons for Directors selling lots of shares, as it's a circumstance that is forced upon them by a court order.

Another consideration is that there's often a substantial tax bill associated with a large sale, so this can increase the size of the transaction.

On the other hand, there's no avoiding the fact that this is a founder selling 82% of his holding, at a price discount of 17%, which is clearly negative for the share price.

Both Graham and I consider this a decent company, in a difficult sector. There's an argument that a forced seller might be providing a buying opportunity, perhaps?



Craneware (LON:CRW)

Share price: 1909p
No. shares: 26.7m
Market cap: £509.7m

3 September 2019 - Craneware (AIM: CRW.L), the market leader in Value Cycle software solutions for the US healthcare market, announces its audited results for the year ended 30 June 2019.

This previously high-flying shares was on a lofty rating, but it disappointed investors with a profit warning at the end of June 2019, which I reported on here. Sales growth seemed to have ground to a halt in H2.

The share price has settled at a lower range of 1700-2000p, having previously peaked at 3436p in…

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