Yeah it would be a brave (or foolish) board member to be trading shares in the lead-up to something as market sensitive as a T/O offer, aside from the normal blackout periods (which I think is five trading days) around the standard market sensitive announcements, this type of announcement requires lots of governance well in advance of the release to the ASX e.g. the board would need to be engaged in confidential discussions well in advance of tabling or negotiating a buyout type deal.
IFT Price at posting:
$4.60 Sentiment: None Disclosure: Held
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