It is a dumb ol system where a benchmark is the actual trading that takes place not the potential being used as a defense? it is the one the asx used in regards to if a market price sensitive one or not . The ASX really needs to lift it's game IMO. That is a very low benchmark as the company has no control over how many shares were traded nor has any idea on if both buyer and seller were fully informed etc. No idea of CFD or others that could have traded or off market. If it was 10million the excuse would have been it is only 10 mill of our xx mill on issue a small % etc etc.
one share traded where people have different levels of public information is too many IMO and just look at the small amounts of $ that ultimately was all it took in cases like Vizard, Rivkin etc in regards to insider trading.
It's all right officer , I used a knife , I stabbed him but he only bled a little from a scratch and didn't die . The potential represents the gravity and scale of possible offense but the resulting fact it was a scratch not a death being totally out of the control of the party. A defense should not be that it was only a scratch because they had no idea it was only going to be a scratch.
