if you look at the Asx guidelines, a blackout period is determined by the individual company. The ASX rules only state that a company must have one but doesnt prescribe exactly how long it can be. although they do make recommendations, they indicate it depends on the individual circumstances of the company, but ultimately, asx indicates it must be reasonable. 1 week? 2? 4?.
the overarching theme is insider trading (duh!). Technically speaking, the market knows finance should be close per recent ANNs. Alex may know exactly how close, but until any finance is formally locked in in which it needs to be ANN asap, he is in the same boat as us. Therefore, today he might not be aware finance is secured, so he buys on-market like any other investor/trader would, but then say next week he receives a call that a bank has agreed on all terms and signs, which has to be ANN to the market.
i agree that another update would be great, but IMO, if we are indeed close, there would be no point in an update? Either way, im sure we will get some commentary in the half-yearly once released under ."matters subsequent to reporting period".
we will all find out soon enough. Alternatively, anyone contact Alex directly? I may do so in a couple of weeks if no news but we did get an update 2 or so weeks ago. "Final credit approvals".
aimo
G1A Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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