Alan, Ben, Cara and Daisy are the only directors and equal shareholders of ABCD Limited, a private company which provides IT consultancy and software upgrading services to businesses in the Hong Kong tourist industry. Prior to the incorporation of ABCD Limited, all of them decided that mutual trust and respect was vital for them to run the business, and they agreed to make all major business decisions collectively. Based on the above information,

(3)assume that while performing software upgrading services for Silverlight Group Limited ("Silverlight"), a company listed in Hong Kong Stock Exchange, Alan discovered that Silverlight has secured a profitable project with the Hong Kong government, and that it will make a public announcement after signing the contract in next week. Critically assess and provide THREE examples to illustrate the situations that Alan may constitute insider dealings in accordance with s270 of the Securities and Futures Ordinance and to discuss his possible liabilities. (20 marks)