Old man river, the MD is entitled to buy SNX shares if he is considering a buyback but the board has yet to discuss it. You can not be charged with insider trading for "thinking" about a corporate action if the action hasn't been put into place.
If ASIC thought like you on insider trading they could charge people who are "thinking" of making a takeover for a company with insider trading for buying shares up to the 19.9% limit before they announce the takeover, which would be ridiculous.
What I am trying to say is that the MD can buy shares legally if he thinks a buyback is a good idea but the buyback has not been suggested to the board.
I don't know whether there will be a buyback or not but I do know that Rivkin wants to call a EGM to propose a buyback (subscribe to The Rivkin Report and you can read that Rivkin thinks SNX is cheap).
Good luck to all SNX holders.
SNX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
