RE: Single trial site28 Jan 2021 07:06
Huw's proably been an insider since day 1 and therefore unable to buy any shares even if he wanted, personally i don't give a jot if he does or doesn't and i'm only interested in the delivery of material events on the pipeline.......news of which could drop at anytime.....and no doubt within 30 days of the last update. Gla ;-)
ps and with enough cash until "the tail end of this year" according to Huw's recent statement....no fund raise required either, unless Evgen's business model has been radically changed. Gla Holders ;-)
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This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on the FSA and Securities Regulation.
In order to reduce the risk that directors and senior managers of quoted companies might be thought to be taking advantage of inside information (see: Insider dealing, an OUT-LAW guide), both the Listing Rules and the rules of AIM require that companies restrict the times at which their directors and senior managers can deal in the company’s shares. In the case of fully listed companies, the Listing Rules contain a ‘Model Code’ on share dealing by directors and senior employees that companies are required to adopt in full (though they may impose more onerous restrictions if they want).
Like the rules for disclosures in relation to shares (see: Disclosures in relation to shares, an OUT-LAW guide), the Code applies to both directors and other PDMRs and defines ‘dealing’ widely. If there is any doubt as to what is caught, seek advice.
Directors and other PDMRs must not deal in shares during a ‘close period’, that is the period of 60 days before the announcement of annual results or the publication of the annual report (or, if shorter, the period from the end of the financial year to the announcement or publication). In the case of half-year results, it is the time between the end of the half year and the date of publication. If a company reports quarterly, the close period is 30 days before each announcement or, if shorter, the period between the end of the quarter and publication. (The same restriction does not apply to the company’s interim management statement, though a cautious approach would impose a similar 30-day ban on dealing.)
This is a simple prohibition: it is taken as read that, during those periods when financial results are being prepared, senior personnel are likely to have price-sensitive information.
Outside those periods, directors and other PDMRs are still prohibited from dealing if there is undisclosed inside information. (See: Disclosure of price-senstive information, an OUT-LAW guide.) This might be news of a possible takeover, a significant share issue or a big contract win or loss.
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