Ann: WA-547-P Extension Approved, page-13

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nashezz

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734

11/03/24

20:21

Post #: 72846205
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Originally posted by Onspeed ↑

Spent a bit of time looking into this at a high level and it makes sense, inside a 'blackout' period there is no way to purchase stock and maintain an officeholder's ethical responsibilities. This is laid out in the Corp Act 2001 Vol 5, Ch 7, Part 7.10, Div 3. Basically once an officeholder or member comes into possession of information which is unknown or inaccessible to the public, they cannot conduct any action which may provide them a personal gain. The repercussions are quite serious too and can include permanent banning from being involved in a company.

Getting more specific as to FDR, the Quarterlies since Dec 2022 have all had a 'New Ventures' section (see below) where they state they are either 'evaluating', 'pursuing', 'progressing' and 'capturing' new opportunities. As we saw in November of last year we did get the partnership with Equinor so that was one. December 2023 Quarterly also says they anticipate announcing new opportunities in this quarter (Jan - Mar). So to end, I don't think it's BS, I think they just can't as they are always working on some new thing, which I'm not going to complain about

References:
- https://www.legislation.gov.au/C2004A00818/2019-07-01/text/5

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And he did say something like 'almost always' which meant that he conceded there were periods he could have bought. Either way, has clearly not stopped me investing. One of my biggest investments too. Clear R/R upside, surprised it continues to go down tbh and personally happy to keep buying as readies become available.

FDR Price at posting: 6.4¢ Sentiment: None Disclosure: Held
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