The People Have Spoken, page-283

Well folks, looks like I was wrong about PB and NB buying on market. No Appendix 3Y announced to date, and also confirmed by my reading of the Annual report. Extracts below from page 13 of the 2022 Annual Report:

Mr Neil Biddle - Director’s Interest in Securities (as at the date of this report) - Nil
Mr Paul Burton - Director’s Interest in Securities (as at the date of this report) - 7,688,889 ordinary shares

My take on the "date of this report" would be the date signed off on 28 September, so if my take is right then no shares purchased by our Chairman or MD/CEO since retaining their positions last week.

Now this really has me puzzled / worried. How or why aren't they buying shares on market?

My original belief, as previously posted, was that they simply must buy to send the right message to the market. Then, when I read the Annual Report last night, and noticed no movement in holdings, I started to wonder if there was another reason that they can't buy? I don't believe there would be a blackout period applying, so what else could be a valid explanation for not buying? Surely they can't be as selfish and lacking faith in the project as people have suggested to the point where they refuse to buy shares? Surely I am missing something?

I also reflected back to Brunod's earlier post confirming that NB reached out to GW the weekend before the meeting and offered to cut a deal. We know that GW rejected the offer, so I wonder if the BOD was also trying to cut deals with other majors to hedge their bets? Could any of those deals be imposing restrictions on the ability of PB or NB to buy on market?

Anyone else got any thoughts or theories around why the BOD aren't buying?