(a) a person possesses information that is not generally available but, if the information were generally available, a reasonable person would expect it to have a material effect on the price or value of securities of a body corporate; and
(b) the person knows, or ought reasonably to know, that:
(i) the information is not generally available; and
(ii) if it were generally available, it might have a material effect on the price of value of those securities;” 2
All Australian Telco's have to be licensed and/or have a NCD (Nominated Carrier Declaration) for each installation, and all these are registered on the ACA's (Australian Communications Authority) website. The company/competitor is not listed on this federal government register, which is updated daily.
I (and my associates) all used legitimate public resources to gain this knowledge, which we have kept under our hats for several months.
So, if you guys can help, I have a couple more questions - with the knowledge that I gained this info from my own research and from public sources:
Is it insider trading if I tell others this info?
Surely the results of personal research through legitimate sources and telling my mates is not insider trading?
Do I have to tell the ASX that I have knowledge about a listed company that is price sensitive?
