According to Euro24 news agency, Alan Svoboda resigned from the executive committee due to investigation of 2005 insider trading. Alan Svoboda bought in 2005 17.5m shares for CZK 6.7m which he later on sold it. Our view: We see the news as neutral as there isn’t new evidence against Svoboda which would prove his wrongdoing. In addition, this case has been on for almost two years now and we don’t expect it to be concluded any time soon.