smh: director purchases

Hey Tony,

This article is on another forum also, so i was wondering if you had anything to add to it?

http://business.smh.com.au/director-defends-timing-of-purchases/20080415-26dr.html?page=1


"A DIRECTOR who was an architect of insider-trading legislation in 1985 has regularly bought his company's shares shortly before market-sensitive announcements.

As a director of the junior iron ore and gold explorer Pluton Resources, Ray Schoer made six share purchases in the seven days before company results or a big company announcement. He also made up to 18 purchases outside the company's published share trading policy for directors.

Mr Schoer is well known as the chief executive of the National Companies and Securities Commission between 1980 and 1990 and in the next five years as national director of the Australian Stock Exchange."