Leevardi,To evaluate the event you should address a very simple...

Leevardi,

To evaluate the event you should address a very simple question:

What was the reason to buy 1mln shares?

Were they cheap at 25-26c? => it is definitely not. First of all this director did not participate in the SPP at 22c and he is buying at 15% more expensive. Several weeks earlier he had an opportunity to buy at a cheaper price.

Has something "hot" is coming? Probably definitely not as the company has already mislead the market many times by announcing about imminent contract signing or saying
Currently on track to secure paid contract with major oil and gas producer for CLRS tool by February 2010 on 18 Jan 2010 but not saying anything in February after not securing the planned contract. So the person who writes these kind of announcements does not know the meaning of word imminent or this word was used to mislead the company investors for over 4 months. I have been frustrated all the way how information has been provided to the market and as a result I sold my all holdings next day after the announcement.

Does it mean much that the director spent ~$256K buying shares. I think it does not. Here is a very simple example.
A couple of months ago a Nufarm director spent ~$3mln buying shares of its own company at ~$10.50. What is the Nufarm shares price now? It is ~$7.50 only, so it is almost 30% lower.

So what was the reason for the director to buy? It was clear to stop a free fall in the share price.

Hope this helps to understand the reasons behind the purchase.

irynka