@RookyKid Indeed. There are two distinct issues here and possibly some people are getting confused
1) Was a director selling? Technically yes, but net no. There is not any substantial issue with director confidence in their own company so I don't consider this part a point worth discussing.
2) Was a director non-compliant with listing rules & policy etc by short-term trading, performing sales/purchases without giving the appropriate notice to the board? Yes.
It's not directly indicative of anything negative about the project itself that would prompt a director to sell, but it's embarrassing and unprofessional and that has knock-on effects too. As per @Grivarta's comments.
OTOH it's also true that the material effect of this isn't necessarily that meaningful. Almost looks like he told the board "I want to buy shares" then thought that meant he was ok to run a bot over the following month that net accumulates shares while also occasionally selling according to some algorithm. I don't think that's literally what he did but it definitely seems like his overall goal was to strategically accumulate even during his sales, rather than day-trade short his own stock (?!) or insider trade it (!!). I should clarify: this isn't so much an attempt to justify his actions, just my attempt to understand why he'd do this and not realise it was obviously going to explode in his face as soon as the activity came to light.
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