As I wrote before, there will be plenty trying to justify why it...

As I wrote before, there will be plenty trying to justify why it was OK for a director who has never touched FLC shares to have bought 500K of shares just before an price sensitive ASX announcement.

Well here it is in black and white from Ross in an email. The subsequent discussion shows some skepticism, but we see today it was justified:

https://hotcopper.com.au/threads/email-to-henry.4060462/

This is Ross's words in legally traceable email, not some off the cuff comment which is one of the excuses already used today:

"I understand the sentiments in your email. I note that that the long lead nature of winning contracts in the water industry is such that at any point in time Directors and senior managers may be deemed to have “inside information” about the status of evolving contract negotiations which cannot yet be disclosed. This is a proper governance impediment to Directors and Managers buying or selling shares.

I will though, pass on your comments."

So did their governance policy change last week? Did the Board member have no idea they were about to sign a USD $20M contract? While this potential deal known about, there is a reason why there is a contract negotiating process and implementing a legally binding contract. That's why this was marked price sensitive by ASX and that's one of the reasons why we have a higher SP today on high volume.

Guys; I can only lead a horse to water. I just made a simple observation which I stated in my first post today here to actually be helpful to all members on this forum. I didn't expect to having to spend time tracking the evidence to justify my position. But there you go. There's probably a lot of new people on the forum or short memories.

Not worth ASIC/ASX time on this, but pretty obvious what has happened and what the stated policy of the company is with respect to governance.

That's enough from me this week on FLC.