director selling, page-26

Bubsmark

The "closed Trading Period" per the securities trading policy is as follows:

(c) 1 January, 1 April, 1 July or 1 October and 1 trading day following the announcement of Discovery Metal's quarterly report of the ASX.

As such the blackout period ends the morning 2 days after the announcement is made.

- The quarterly was released on 23 October;
- The blackout period ends at 12:00 (midnight) on 24 October (unless he is given written approval by Paul Federiks or Brad Sampson or who ever is the appointed "Disclosure Officer");
- Per the announcement Jeremy Read commenced selling his shares on 24 October (the day following release of the quarterly report).

So Jeremy Read is entitled to commence selling shares on 25 October. So technically he did not even wait until the end of the blackout period before he commenced selling.

Just to be clear the wording in the policy is that Written Approval is required to sell in a blackout period as well as eveidence of Exceptional Hardship, such as financial hardship or exceptional circumstances which anything that John Shaw or Brad Sampson deem appropriate.

I wonder what exceptional circumstances Brad and John accepted to allow the early trade? Or maybe it was an itchy trigger finger.