Perisai Petroleum - MD makes a slick call on option

Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI

Research House: CIMB

Price Call: BUY

Target Price: 1.50

Target RM1.50

Perisai's MD Izzet Ishak's exercise of a call option on 66m shares at RM0.485 apiece demonstrates his commitment to the company and makes him Perisai's fourth largest shareholder. We take a positive view of this compensation and means of motivation. We continue to value the stock at our CY13 target market P/E of 13x. Perisai remains an Outperform and our top small-cap oil & gas pick.

Source: CIMB Daybreak - 05 April 2012, Full PDF Report