The last time SWL updated their share trading policy was 25Jan11 - it was in a document with other policies and was written by their solicitors so was in legal jargon.
This latest update is in plain English that will be well understood by all - it is very specific, it has much longer blackout periods(at least six months of the year), and is applicable to all employees and contractors whereas previously it was directed at only corporate staff. And for those wanting to buy/sell, they need to fill out a form and get it approved by Management prior to the transaction and it can be rejected without reasons given.
They are currently in a blackout period until release of FY16 results later this month.
This new policy gives greater confidence to investors that they are not dealing with an insider with confidential knowledge when buying/selling shares. This is totally appropriate as SWL gives away over a million rights to free shares to employees each year and so trading in these shares should be restricted as set out in this new policy. Thumbs up to Management here.
SWL Price at posting:
72.0¢ Sentiment: Hold Disclosure: Held
