My running theory is 2-3 x Director buy-in post AGM. I've never seen a Chairman not hold ordinary shares, so hopefully we get at least one? They aren't doing this before the AGM, thats not in their interest.
Unless there is a contract underway, my guess is the black out period will be lifted in Dec due to it being after the AGM but before the end of quarter.
I'm just making things up so take it with a grain of salt. The only way Bahay could have suspected the options were in play, was if he knew of a buyer. The QGC deal did nothing, so I suspected it wouldn't be an announcement.
general chat/ thoughts, page-2183
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