After several months of negotiations, the CEO of BIG Pty Ltd made the long-awaited announcement to board members that BIG Pty Ltd would be buying Melbourne based company, YAY Pty Ltd for $25m. The following persons were present at the meeting: Helen and Liam (Company Directors) and Tammy (Receptionist taking meeting minutes). News of the take-over would not be released to the public until the following week.

(a)Assume Helen owns 50,000 shares in YAY Pty Ltd . Discuss whether she would be breaching any duties if she makes asecret profit of $500,000 from the takeover.What can Helen do to avoid breaching any duties?