UGL SP was $2.39 when they were bought. The notice is dated 16 Dec, meaning the transaction was on 12 Dec when they closed at $2.34 (5 days to report).
Actually, buying on market is good as it supports the price. Most companies just award shares from reserves, giving no benefit (such as there is) to shareholders.
UGL Price at posting:
$2.51 Sentiment: Buy Disclosure: Held