Ann: Trading Halt, page-168

If ADN were to buy MEP shares, the BoD would have to sign off on it. To do so would require they held no material non-public information. There would be times when that was the case but not in the last few months. Breaching the Corporations Act isn't restricted to individuals as you suggest - companies operate with the guidance of their BoD and so the company itself AND the board members would be open to prosecution if they dealt as insiders. If STX & WGO had no material non-public information at the time, or it was a fully announced placement, no issue. How would you feel if you sold your MEP shares to ADN at 11c a few weeks back? Windows are pretty tightly controlled in many companies for the reason you outline.