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ACCORDING TO THE CHANGE OF SUBSTANTIAL SHAREHOLDERS NOTICE DATED THE 3RD MARCH.

JESSUP SOLD HIS SHARES ON THE 25TH FEBRUARY..... THE AGM WAS ON THE 26TH FEBRUARY.

THIS IS FROM ARANA'S WEBSITE, THIS IS THE LINK..... http://www.arana.com/corporate_governance.htm

 

 

Dealing in Company Shares

All employees in the Company receive training regarding the requirements of the Corporations Act 2001 with regard to trading in the shares of the Company. In addition to the requirements of the Corporations Act 2001, the Company has a policy that only allows directors and employees, and their related parties, to buy or sell shares during the six week periods following the release of the full year and half year results, the AGM; and at other periods approved by the Board. Any person wishing to buy or sell shares must in advance of the transaction, obtain permission from the Board or its delegate.

 

The CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s policy prohibits persons covered by this policy to enter into derivative instruments in relation to contingent shares. Where a person covered by this policy enters into a derivative instrument in relation to shares held or contingent shares which have vested, the person must inform the Company Secretary who will then inform the market.

 

Any transaction conducted by directors in shares of the Company is notified to the Australian Stock Exchange (ASX). Each director has entered into an agreement with the Company to provide information to enable the Company to notify the ASX of any share transactions within five business days.

 

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Any person wishing to buy or sell shares must in advance of the transaction, obtain permission from the Board or its delegate.

 

Therefore Jessup must have obtained permission to sell the shares from the board prior to the agm, BUT Beaumont said he only learnt about the Takeover at 5.30pm on the 25th February.

 

SO WHAT IS IT...... Did Jessup sell his shares illegally or did Beaumont know about the takeover prior to 5.30 pm on the 25th Feb

........ Just a QUESTION

 

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Best outcome we could hope for is Cephalon drop their bid share price holds its ground and other strategic investors jump on board.

 

That is probably the only way we will ever see a decent return on our investment! Let them fight over it after the arthritis results remember they have shown it works and it gets into the joints better like that toothpaste add they used to run. Good chance ART 621 will be the leading arthritis drug world wide in 5 years now that will give the share price a nice boost!

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