PV1 7.14% 2.6¢ provaris energy ltd

Ann: Appendix 3Y - Director's Interest, page-4

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    No. They just need to inform market everything they knows before buying and inform about their changes in share holding in a timely manner. So if tomorrow Norwegian company Equinor or GreenH comes up with new business proposal, that was not known to them at the time they bought, they wont be held accountable. That is my understanding reading documents below.
    More:
    1. https://asic.gov.au/for-business/running-a-company/company-officeholder-duties/what-books-and-records-should-my-company-keep/notifying-a-market-operator-about-directors-interests-in-company-securities/
    2. https://download.asic.gov.au/media/1241069/rg193.pdf

    RG 193.2 ASIC regards s205G as an important part of the regulatory regime, which,
    together with the prohibitions on insider trading and market manipulation,
    helps to maintain an informed and orderly market. All market participants,
    shareholders and other investors are entitled to know the shareholdings, and
    changes to those shareholdings, of directors and their associates.

    RG 193.3 Directors of companies have access to significantly more detailed
    information about companies than shareholders do. Accordingly,
    shareholders are influenced by the actions taken by directors in relation to
    the acquisition or disposal of shares by them. Shareholders are entitled to
    know, in a timely manner, whether directors are buying or selling shares in
    the company. Similarly, shareholders are entitled to be informed of, and
    companies are obliged by law to disclose, information that may impact on
    the share price.

    RG 193.4 Particularly at times of share price volatility, price-sensitive announcements
    or takeover activity, the requirement for directors to lodge notices of changes
    in shareholdings in a timely way is an important measure to ensure the
    market remains properly informed
 
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