Old man river, the MD is entitled to buy SNX shares if he is considering a buyback but the board has yet to discuss it. You can not be charged with insider trading for "thinking" about a corporate action if the action hasn't been put into place.
If ASIC thought like you on insider trading they could charge people who are "thinking" of making a takeover for a company with insider trading for buying shares up to the 19.9% limit before they announce the takeover, which would be ridiculous.
What I am trying to say is that the MD can buy shares legally if he thinks a buyback is a good idea but the buyback has not been suggested to the board.
I don't know whether there will be a buyback or not but I do know that Rivkin wants to call a EGM to propose a buyback (subscribe to The Rivkin Report and you can read that Rivkin thinks SNX is cheap).
Good luck to all SNX holders.
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Last
3.5¢ |
Change
-0.002(5.41%) |
Mkt cap ! $3.341M |
Open | High | Low | Value | Volume |
3.7¢ | 3.8¢ | 3.5¢ | $11.74K | 319K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 160093 | 3.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.8¢ | 14035 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 160093 | 0.035 |
1 | 100000 | 0.034 |
1 | 150000 | 0.033 |
1 | 30333 | 0.032 |
1 | 120000 | 0.031 |
Price($) | Vol. | No. |
---|---|---|
0.038 | 14035 | 1 |
0.043 | 41917 | 1 |
0.044 | 73000 | 1 |
0.056 | 40059 | 1 |
0.057 | 73485 | 1 |
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