Ann: Change of Director's Interest Notice MM, page-19

I think we have done this discussion already haven't we?

Options are a type of security and dealing in securities when you are in possession of inside information is the broad area which is governed under the corporations act for the purpose of this conversation. Its got nothing to do with the ASX as its a federal law which applies to all public companies, even unlisted ones.

Since we cannot be sure what information that she / they were in possession of on expiry date we cannot be sure how or if it would apply here or not. If in the last week or so there was any chance of those options becoming of value and this conversation becoming relevant the SP would need to have doubled to a 5 year high. I have been of the view that its unlikely that this could occur without the company becoming aware of some very good news. If that news was announced then she would be in the clear. None of this ever happened.

As SP failed to reach the price where any reasonable person would exercise them, we can imply nothing from this expiry in my opinion other than that she was unlucky that the labs dragged this out too long and that she is likely a little pee'ed off with them.

PS. This is not legal advice, medical advice or a get out of gaol free card if you have been naughty.