It can be done, although a notice needs to be lodged with ASIC advising the company intends to provide financial accommodation /assistance to the director and that the finance provided to the director to purchase shares or exercise options will not create a solvency issue for the company.
This financial assistance would have required a special resolution and vote passed by shareholders. It would have had to occur 14 days ago at minimum.
The notice delay is more likely just administration as I believe the market only needs to be informed in 5 business days of the transaction occuring.
Todays trading seems to suggest or imply that the smart money already knows BB has exercised his options and no free lunch is going to happen for brokers.
Ann: Change of Director's Interest Notice, page-32
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Last
$2.12 |
Change
0.020(0.95%) |
Mkt cap ! $547.0M | |||
| Open | High | Low | Value | Volume |
| $2.10 | $2.16 | $2.05 | $928.8K | 438.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5476 | $2.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.12 | 1332 | 3 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| DVP (ASX) Chart |