This is actually a serious breach as a cleansing notice was not issued and the director who sold directly benefited. So there is a case to answer as to whether information was known at the time and therefore exposed to insider trading. This is the entire reason for the cleansing notice.
Whether ASIC seek to enforce this is another matter. But the company has breached the corps act, simple as that. They may need to go into suspension.
Ann: Trading Halt, page-43
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