Well, my guess is that they crossed the 950k prior to the 4.5m placement otherwise they would have comfortably remained under the 1% if they sold 1m after the palcement.
Perhaps they did not need to find a loophole in s671B and I'm reading too much into the rule. Still, it's good to have a clear understanding of listing rules, since we can determine if the directors over-step the line.
In any case no one should be concerned about THX selling UMC since their investment strategy is very much different to ours.
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held