Also, if the deals/prospects were definitively dead, the directors would be obliged to disclose this due to the obvious trading in anticipation of those deals. Directors are subject to duties beyond the listing rules. They have a specific duty to act in good faith and in the best interests of the company and its shareholders. The directors would be personally liable for a breach of this obligation - which is probably enough to scare them into having at least a small amount of integrity.
Again, not legal advice. DYOR.
Ann: Dr. Dennis Roach Appointment, page-33
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