Ann: Change of Director's Interest Notice, page-9

I agree & I don't

Agree - It doesn't mean that at all. It does mean that they don't currently have any pending price-sensitive information, otherwise it would be insider trading.

Disagree - It doesn't mean they couldn't sign a contract tomorrow and have a price sensitive announcement right after.

In order for point point two to be valid (whilst theoretically possible), would require the CEO to purchase his shares today & next day sign a contract that has material impact on the Company?

What would his argument in court be for insider trading?

" I bought my shares prior to the knowledge of this deal......It lobbed on my desk at 8:30 the day after I purchased my shares your honour.
By 12:00 the same day with out any due diligence signed off on this being the companies best path forward because it was such a hail mary deal we could not afford the time to do due diligence or investigate under our usual protocols?"

How much prior work is required before sign off will depend on the complexity no doubt, but I would think it would highly unlikely that they enter into a contract in the short time after this notice is recorded on the ASX.

It would also fly in the face of their Corporate Values/ Corporate Governance.

...This modus operandi has been market code for some time ---ie not in the short term is anything happening.