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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4.0¢ |
Change
-0.004(9.09%) |
Mkt cap ! $4.918M |
Open | High | Low | Value | Volume |
4.2¢ | 4.2¢ | 4.0¢ | $2.804K | 67.60K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 3.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.2¢ | 160000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 0.038 |
1 | 100000 | 0.035 |
1 | 150000 | 0.034 |
1 | 90930 | 0.033 |
1 | 93780 | 0.032 |
Price($) | Vol. | No. |
---|---|---|
0.042 | 160000 | 1 |
0.044 | 40680 | 1 |
0.046 | 100000 | 1 |
0.047 | 42264 | 2 |
0.048 | 50000 | 1 |
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