"It is further alleged that Mr Woodland committed twelve counts...

"It is further alleged that Mr Woodland committed twelve counts of communicating inside information to others at a time when it was not generally available to the public."


This is a press statement - not a legal document.

The communication in question was obviously with a view to convincing others to acquire or dispose.

The key element of the communication by Profittrader is that it was done during a trading halt - where it isn't possible for another shareholder to trade. Profittrader cannot therefore "know" that the persons to whom he communicated were going to acquire, or were reasonably likely to acquire, financial products.

Feel free to chase up ASIC - I couldn't care less - this is just my interpretation of the Corps Act.