Is a huge problem ahead?, page-28

Just woke up....pretty strange to see Directors permitted to buy a week ahead of their full year results. I wonder if this is a breech of their Trading policy?

ASX guidance on blackout periods for Key Personnel trading says:

For this reason, ASX would generally expect entities to include within their closed periods the period from, or just prior to, the close of books at half - and full year end until a reasonable period after the release of their financial results for the half - and full -year respectively.

Generally, it would be considered best practice for the closed period to commence one or two weeks before close of books to align with when KMP may be expected to receive unaudited information about the probable financial position at balance date.

The reference here to a “reasonable period” means a period that will allow the market sufficient time to absorb the results and reflect them in the market price of the entity’s securities, as contemplated in section 1042C(1)(b)(ii) of the Corporations Act. Entities that release their results in the morning well before the commencement of trading may regard that as sufficient time to enable the market to absorb the results and therefore end their closed period, or begin their trading window, at the commencement of trading on the day of release. Other entities may feel it is safer to fix as the end of their blackout period, or the beginning of their trading window, the beginning of trading on the first trading day after the day on which its results are released.