Ann: Important Global Aviation Regulator Approval Update, page-23

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100% correct ....The MD which is Toby at the August conference emphasised three times in the call that agreements would be done well before end of year. Then less than a week later he is selling shares, then the COO starts dumping a few weeks later. These guys were so bullish in that phone call. Then silence till the AGM ....MD/CEO doesn't turn up, then they say the agreements are still on track for end of year or slightly after.  January 1 comes and not a word. Then we see 31 Dec Top 20 and MD/CEO has sold over half his holding and is no longer a director and playing other stocks as new director (refer CFO).
It really is a bad look and shows that back in August 2016 they knew there was not going to be any agreements by year end because why would you sell over half you holding if there was going to be agreements announced.
They should have made an update announcement to reflect the delays they obviously saw coming.
People buying shares from August 20 onwards have not been properly informed by the company.
Disgrace!