obviously this forced VA was a work in progress for a number of months or longer. There is no longer any secret about it.
some shareholders that were privvy to information that was not in the public domain, sold out and saved millions.
Hoping ASIC investigate further as trading should not have occurred some time back but i guess mates had to exit whilst they could and retain their capital.
What are the penalties for insider trading? There are serious penalties for insider trading. The penalty for an individual for insider trading is up to 10 years imprisonment and/or the greater of $495,000 or three times the profit gained or loss avoided. For companies, the maximum penalty is the greater of $4.95 million, three times the profit gained or loss avoided or 10 per cent of the body corporate’s annual turnover in the relevant period.
TEN Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
