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Southcoast. The closed period for boohoo is the same as it is for everyone else 30 calendar days before interim or final results publication. At all other times there are no closed periods for directors or pmdr’s but they are bound by insider trading rules at all times.
When the director made that purchase it didn’t signal that there we no trading updates coming at all.
Put simply you have misinterpreted what the closed period means and have stated that because a director purchased shares in November the company are not now not allowed to make any announcement until the 5th of December which is simply wrong.
Pmoran So when is the closed period for boohoo then?
Look when the director made that purchase it signalled that there are no trading updates coming within a month (the company could release some kind of trading update at any time it wants) and also there was no other big news likely to come - its not like they will let a director buy and then a week later come out with an rns saying we've sorted the court case and we are now sending our own cargo planes to lower shipping costs etc...
If you are betting on the shareprice to fall it's a good gauge there is nothing coming from the company new wise.....
We can go back and forth all day but i have a busy day today so ill see ya later....
Scb - doesnt matter what the shorts did after a director buy or do after the 5th the rules will still be the same!
Well the shorts certainly started to increase after that date!... Let's see if they begin to reduce from the 5th....
South coast - I think you misunderstand the information that you have cut and paste titled understanding close periods
The closed period is is a fixed amount of time prior to official published results. If a company issued quarterly statements to the market then for a period prior to each statement directors and people deemed to have relevant management responsibility in the organisation are prevented from trading.
This does not then mean every time a director or person with relevant management responsibility trades in shares that an automatic ban on ad hoc statements or updates comes into play for the next 30 days!
A company is obliged to communicate with the markets within a given timeframe if something happens that could materially affect share price such as say the final value of the court case you refer to. If management have details of this information prior to the market being made aware they are prevented from dealing in the company shares.
But nowhere in the rules does it state that once a director or manager has purchased shares the company cannot then issue a relevant update. In fact the rules around timeliness of informing the market state the opposite and a company cannot hold back information that might have a material effect on the share price.
So once the director bought if there was anything of relevance to say at any point after that purchase the company were perfectly within their rights and in some instances even obliged to issue the relevant rns regardless of the director share dealings.
So actually as I pointed out previously the only thing the market could know once the direct purchased those shares was that the director had purchased shares.
Once the director bought the market then knew nothing could come for a month regarding progress updates etc.....
Read it how you want but thats it.
Pmoran there could have been a multitude of updates inc the final value of the court case etc....
Understanding Close Periods
The close period is intended to prevent trading in a company's shares by its insiders ahead of the public dissemination of its financial results. This is because the insiders may be privy to information that is not yet in the public domain, and may be tempted to "jump the gun" with regard to their company shareholdings.
Why Companies Tend to Stop Making Statements During a Close Period
Companies typically refrain from releasing price-sensitive statements or news during the close period. Companies may choose to withhold making statements during the close period to prevent the company’s shares from being affected ahead of the release of the expected financial results.
If possible, a trading statement or other news might be issued prior to the start of the close period. Companies can host discussions with investors and analysts before the close period commences. It is also possible that statements and news relevant to the financial results would be released as part of the filings or shortly after.
For instance, the company might wait until the financial results are published before revealing the test results for a new product or plans for a new initiative to expand operations. There can be cases wherein a company must report news or statements during the close period even if it might influence share prices. Accidents and calamities that affect the company’s operations may need to be publicly acknowledged. A disaster at a company’s major production facility could not be ignored regardless of a close period. The sudden or unexpected departure of members of executive management likewise can call for public statements by the company that cannot wait.
Southcoast - no the closed period refers to the 30 day period prior to the release of official results updates be they quarterly half yearly or the final results. The rule is there because typically directors and other management within an organisation will be aware of all performance data a week or two after the period has ended which is often several weeks before details are published to the market. The close period effectively prevents directors from taking advantage of the knowledge they have that share holders do not.
At all other times there are separate rules in place to ensure that directors or persons with management responsibility cannot trade based on insider knowledge they have and whilst this typically affects directors and senior managers in reality it applies to anyone in the company, for example if kamani had a meeting at a boohoo site with someone who was planning to make an offer for the company and the bloke on security overheard them saying goodbye to each other in reception and picked up on the fact an offer would be forthcoming in a week or two (and that the board were amenable to it) then the security guard could not trade in shares because he would be acting on insider knowledge.
However the closed period isn’t a moveable feast so to speak. A director purchasing shares today wouldn’t mean the company cannot report anything for the next 30 days. It only applies to the 30 days prior to planned results updates.
The minute he purchased shares the only thing the market knew for sure was that some director of boohoo had purchased shares in the company, nothing more and nothing less.
Scb
Brian Small is a Non-Executive Director - so he may well not be under the same lose period regulation as the Executive Board
Pmoran a director CANNOT buy within one month on a trading update. ....
"The close period is typically regarded as the one-month period preceding the release of a company's quarterly results"
The minute he bought shares the market new there was no updates coming for one month.
Southcoast what are you on about the 5th December? The company can issue an rns regardless of a director dealing in shares in the month prior to that. A lack of an rns is simply a lack of anything material to inform and the facts that a director purchased shares does not signal to shooters or anyone else that nothing is going to be communicated for the next month.
# Trades 3,293
Vol. Sold 2,283,532
Sold Value £3,775,951.35
Vol. Bought 11,375,743
Bought Value £19,024,986.66
Management absolutely crucified any recovery when the director bought 30 grands worth of shares..... That was a big signal to shorters that no rns or update would be out for the following month..... 5th of Dec that period is up...I'm amazed the board allowed that silly purchase tbh..
Management took money off the market at 340p last year to raise 200 million for acquisitions.... They then made acquisitions and have let the sp sink to 160......
I hope they don't come to the market cap in hand again as I feel it will be empty!!
What time was that? Surely a sell?
£18 million or just under today. But who is it? Cannot wait to see TR1
what rise in SP do you guys think we might see soon, now that we are at near 12 mnth low?
What's gone through?
Must soon be a TR1 surely