EMP 5.88% 3.2¢ emperor energy limited

Timing of Announcements Query!

  1. 1,256 Posts.
    On the 20th of September it was announced that PPT had reduced its holding in EMP to 6.2 million shares.
    On the 26th of September they announced that PPT had reduced holding to a point where it no longer was a major shareholder.
    The problem that I have is that it wasnt until the next day or two that 4,000,000 shares were traded at 66c and it appears to me that this was the sale (after the announcement). If it wasn't the sale they had announced then the lead up to the announcement did not have enough volume to correlate with 6,000,000 shares being sold in the week between the announcments.
    Is this legal. ie. Can they annouce prior to them selling that they have already sold?
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