Platform Specialty Products Corp Execs Explain Insider Buy

On Wednesday, Platform Specialty Products Corp PAH announced that its founders and Executive Officers had purchased some of its Common Stock.

The news triggered an 8.53 percent increase in the stock price that day.

On Thursday, Benzinga spoke with Ben Gliklich, Chief Operating Officer, who explained the reasons behind the purchases.

Insiders at Platform Specialty Products have been buying the company’s stock lately. Over the past five days, the company saw Chairman Martin E. Franklin, Berggruen Holdings, Chief Operating Officer Benjamin Gliklich, and Chief Financial Officer Sanjiv Khattri acquire the stock. Mr. Franklin and Berggruen Holdings (of which, Director of Platform, is also a Director) each purchased 500,000 shares. In addition, CFO Sanjiv bought 5,000 shares of the company’s Common Stock, and COO Gliklich another 4,000 shares.

On Thursday, Benzinga had a chat with Ben Gliklich who explained that the company had a very busy year, “highlighted by several highly strategic acquisitions.”

“We remain highly confident in the quality of our businesses, our integration capability and our ability to generate free cash flow,” the COO expounded.

About Platform Specialty Products

Platform Specialty Products Corp is a small-cap diversified producer of high-technology specialty chemicals. The company also provides related technical services.

Among major financial firms bullish on this company, investors can count Whitney Tilson’s T2 Partners Management, which last disclosed a 36 percent increase in its stake in the company, to 367,320 shares – which represent more than 9 percent of its total equity portfolio’s value, and Bill Ackman’s Pershing Square Capital Management, which is the largest institutional shareholder of record, with42,737,394 shares of the company, worth more than half a billion dollars.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

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