RE: Tonight’s Posts8 Sep 2023 10:38
Amtech, best you educate yourself as making statements like "Not the 'old directors closed period'..." can make you look a touch ill informed.
https://www.pinsentmasons.com/out-law/guides/the-model-code-on-share-dealing
The above article is one of 17,309 posts I have found by a simple search that outline the law...
It states-
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-sensitive information, an OUT-LAW guide.) This might be news of a possible takeover, a significant share issue or a big contract win or loss.
Please feel free to do some research...
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