Suggest we keep a really close watch on share transactions during 2009, and especially moving forward.
If AS, JF, MO, Pagorek and maybe even Casey sell any shares, that would be insider trading.
They know what's in the books, we don't.
The "insider trading" rules relate to what you know, not the position you hold. If you know anything which other shareholders do not, which might be relevant to the share price, you can be pinged.
"Insider Trading - Trading on corporate information - a person is aware of material information (e.g. takeovers, profit results, changes in forecasts) relating to a company that has not yet become public information and trades on the basis of the inside information"
Surely a big hole in the books - eg phantom or unrecoverable sundry debts - is "material information" - although JF will need "hindsight" to appreciate this - such as sitting in a jail cell and thinking about why he's there.
ASX/ASIC have been aggressive on this - a number of successful prosecutions have occurred recently.
TZL Price at posting:
$1.00 Sentiment: None Disclosure: Held
