Ann: Change of Director's Interest Notice x 4, page-11

Incorrect DV & Ram.
The board and execs are completely within their rights to participate in the CR even if they have inside knowledge of pending deals. They were completely upfront with their intentions which signalled their confidence to the market.
It was then up to the other holders as to whether they took their bullish signal on board and acted on it.
See policy excerpt below.

4.5 Exceptions(a) The ASX Listing Rules contemplate that there may be trading that can be excluded from the Company’s Trading Policy and the Corporations Act provides a number of exemptions from the insider trading provisions, therefore Restricted Persons may at any time: -

(xi) trade under an offer or invitation made to all or most of the security holders, such as, a rights issue, a security purchase plan, a dividend or distribution reinvestment plan and an equal access buy-back, where the plan that determines the timing and structure of the offer has been approved by the board. This includes decisions relating to whether or not to take up the entitlements and the sale of entitlements required to provide for the take up of the balance of entitlements under a renounceable pro rata issue;