I completely agree, it wouldn't be a good look, but then again, if NST where to make an offer, they would be keeping it tight to their chests until it happens, so in that case it wouldn't be his fault.
It is a great sign of confidence though either way, and the chances of the Chairman buying in at a top, is highly unlikely.
Ann: Appendix 3Y - McMahon-TAM.AX, page-5
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