Consider the following situation:
EXT has a backlog of core assays with a Perth lab, with the timetable for release of results to EXT controlled by lab.
Meanwhile an EXT director wants to buy on-market.
And directors must not be seen to buy on price-sensitive insider information.
And here’s the question:
On that basis how can a director ever buy when assay results could just appear with a courier knocking at the door? He could be inadvertently breaching Corps Act and ASX rules provisions by doing so.
I note that some resource co’s have governance rules to deal with situations like release of annual/half-yearly results. For example, they must advise Company Sec of intention to buy and Comp Sec may say 'yay' or 'nay'.
Directors do buy shares, which is a good thing, so this process is managed somehow. But how?
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