Given the quarterly has no information about up-coming movements...

Given the quarterly has no information about up-coming movements apart from "we're always looking at acquisition opportunities" i'd say there's something on the boil for early in the next quarter, which gives the current director buy the required gap to avoid insider trading (i thought that was 2 months, but i've since heard differently).

Smart money should start accumulating once Tower makes its next move in uganda. Looks like we're a little dependent at the moment (see directors interests). or when rumour grows about an acquisition.