Why doesn't the CEO of Blinkx own a SINGLE SHARE in the company he runs?

20-May-11 / SELL / Suranga Chandratillake / 137.85p / 383,257 shares / now holding 0
20-May-11 / OPTION EXERCISE / Chandratillake / 100p / 383,257 shares / now holding 0
20-May-11 / SELL / Michael Lynch / 139.99p / 1,350,000 shares

Says it all really - Lynch and Chandratillake are happy to flog their own shares and convert options when they think the price has got ahead of itself - and Blinkx is happy to raise money from Institutional Investors at 134p (and aren't they regretting it now?), but none of the directors are prepared to buy shares in their own company at any price.

As I write the share price is about 34p and still seems to be heading south without any comment or action from Blinkx management to support it - absolutely shameful behaviour in my view. What could they do to stop the rot? Some director buys might work. Giving guidance on FY figures might help. Without any kind of target for FY revenue, how do shareholders know what success looks like? Chandratillake won't give guidance because that's just what the rank incompetent did last November when he said on the CC he was 'comfortable' with FY $124m, then delivered $114m...

One thing's for sure - let's hope Blinkx don't need to raise any more money in the markets any time soon - or ever with Chandratillake in charge - because if they try to do a fund-raising they'll be laughed at, as they deserve to be.

What I really don't understand is why the large investors aren't calling an EGM to remove the clueless retard currently running Blinkx into the ground, and installing someone who has half a clue...