Not a Good Look, page-8

A director selling 4m shares raises red flags everywhere. More so since David Gordon is the chairman of the board. There are requirements for director selling Corporate governance seems to be missing here as there is no announcements with regard to this matter for a week now. From the ASIC website on Director Trading:

All listed entities should have in place a policy about share trading by directors and employees.
Directors should encourage a workplace culture where the policies regarding trading in the company's securities and the prohibitions around insider trading are clearly understood, along with an appreciation of the risks that the policy is addressing. Such a policy should include appropriate 'closed periods' or 'blackouts' where trading is prohibited, any restrictions or exclusions on trading during other trading 'windows', and state the approvals required to be obtained before trading.

Trading is not permitted under the law in any circumstances if the person trading knows unannounced, price-sensitive information. Prior to trading, directors need to consider whether the market is fully informed of all material price-sensitive information. Such a decision is often complex, and based on the particular circumstances at the time of trading. Where the decision is a difficult one, best practice is to err on the side of caution and consider not only the law but how the trading could be perceived by the market.