appendix 3y - christopher quirk, page-102

While I don't question the directors right or reasons for selling some of their shares and of course their is nothing sinister on hand, I am curious about the timing of the sale. Why now? Why not in a few weeks or months when they will surely do much better?

I wonder now if this is to do with the very fine line the directors must walk to stay within asx reporting rules and to honour their confidentiality agreement with P&G. The asx says:

"The ASX confirms that confidentiality agreements are not accepted as a valid reason to not disclose market sensitive information."

Well the directors must know the terms of the agreement with P&G, and at least an idea of the product launch date. They would also have a good idea of how this news will affect the share price. So, given that they want to take some gains for their own reasons in the near term, it seems safer for them to do that now rather than after the product launch when it could be said they benefited from their knowledge of the detailed licencing agreement.

So now I think perhaps we don't have long to wait afterall. [yes its all speculation, but it helps get me through this period].