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SECURITIES DEALING POLICY
INTRODUCTION AND PURPOSE
This policy statement summarises the law relating to insider trading and sets out the policy of Uranex NL ("Uranex") relating to directors and employees dealing in the company’s shares and options.
This policy statement is only a summary of complex legal provisions, and should therefore only be used as a general guide, not as legal advice.
DEALINGS IN GROUP SECURITIES
The insider trading prohibition
If directors or employees have "price-sensitive information" relating to the company which has not been published or which is not otherwise "generally available", it is illegal to:
- buy, sell or otherwise deal in Uranex shares or options;
- advise, procure or encourage another person (for example, a family member, a friend, a family company or trust) to buy or sell Uranex shares or options; or
- pass on information to any other person, if you know or ought to reasonably know that the person may use the information to buy or sell (or procure another person to buy or sell) Uranex shares or options.
It is the responsibility of each Director and employee to ensure that they do not do any of the things prohibited by the insider trading law. The consequences for breach of this law may be severe.
What is "price sensitive information"?
Price-sensitive information means information relating to the company that would, if the information were publicly known, be likely to:
- have a material effect on the price or value of Uranex shares or options; or
- influence persons who commonly invest in securities in deciding whether or not to buy or sell Uranex shares or options .
Examples of possible price-sensitive information include, but are not limited to:
- the financial performance of Uranex against its budget;
- entry into or termination of a material contract (such as a major joint venture);
- a material acquisition or sale of assets by Uranex;
- an actual or proposed takeover or merger;
- analytical results;
- drilling results;
- an actual or proposed change to the company's capital structure;
- a proposed dividend or a change in dividend policy; or
- a material claim against Uranex or other unexpected liability.
When is the information "generally available"?
Information is generally available if:
- it consists of readily observable matter;
- it has been made known in a manner likely to bring the information to the attention of people who commonly invest in securities of a kind whose price or value might be affected by the information, and since it was made known, a reasonable period for it to be disseminated among such persons has elapsed;
- it is derived from information which has been made public; or
- it consists of observations, deductions, conclusions or inferences made or drawn from other generally available information.
Consequences for breach of the insider trading prohibition
Breach of the insider trading prohibition by you or family members could expose you or them to criminal and civil liability. Breach of insider trading law or this policy will also be regarded by the company as serious misconduct which may lead to disciplinary action and/or dismissal.
DEALING IN SHARES OF OTHER COMPANIES
If you have "price sensitive information" relating to a company other than Uranex which is not "generally available" the same insider trading rules outlined above apply to buying and selling shares in that company. In the course of performing your duties as an employee of the company, you may obtain price sensitive information relating to another company in a variety of circumstances. Examples include, but are not limited to the following:
- another company may provide price sensitive information about itself to Uranex in the course of a proposed transaction;
- another company with whom Uranex is dealing may provide price sensitive information about a third company; or
- information concerning Uranex or actions which may be taken by Uranex (ie. a planned transaction or strategic change) could reasonably have an effect on a third party company.
Apart from the application of the insider trading rules to shares in other companies, employees are also bound by a duty of confidentiality in relation to information obtained in the course of their duties in respect of third parties.
