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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4.2¢ |
Change
-0.001(2.33%) |
Mkt cap ! $4.009M |
Open | High | Low | Value | Volume |
4.2¢ | 4.2¢ | 4.2¢ | $2.1K | 50K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 70913 | 4.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.3¢ | 41917 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 70913 | 0.041 |
2 | 250000 | 0.040 |
2 | 628105 | 0.039 |
1 | 100000 | 0.038 |
1 | 100000 | 0.035 |
Price($) | Vol. | No. |
---|---|---|
0.043 | 41917 | 1 |
0.044 | 163000 | 2 |
0.047 | 128000 | 1 |
0.056 | 532156 | 3 |
0.057 | 73485 | 1 |
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