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[sharechat] FRO and Insider Trading

From:	"Oliver Shapleski" <oliver.shapleski@vuw.ac.nz>
Date:	Fri, 19 May 2000 18:54:48 +1200

Interesting article on FRO and insider trading in the NBR this week. What is MOST strange is that the article focuses on the confusion about which SX is to regulate (surely BOTH should?!?!), and almost totally neglects to comment on the directors' liability for saying "there are no matters that we know of" to a "please explain" at the end of December. Clearly there were matters that were, or should have been, known, and FRO should have been suspended from trading back then or a conditional announcement made. If I was an FRO shareholder who had sold (or even a BCH shareholder who had recently bought prior to FRO's change of direction) I would be mightily peeved by now and would be saying something a little harsher than "please explain". Fortunately I am neither, and I can save my cusses for Messrs Anderton and Brash.

Oliver

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