Listed companies have their specific policies regarding...

Listed companies have their specific policies regarding directors trading which have defined trading black-out periods prior to specific reporting requirements. But there is always a general prohibition on trading when the directors are privy to non-public price sensitive information, in both company policies and, of course, the law.

The timing of the trade so close to the announcement isn't great but it can sometimes be difficult for directors to find opportunities to trade when news is coming frequently. It's not like it's a huge trade either so I'm not that concerned. As other have indicated I'm happy to focus on the positive indication it provides rather than the slightly dubious timing.