Question 4 [20 marks] Bricks n Mortar Ltd operates a construction business in Australia. The company is a public listed company. The business specialises in developing and renovating buildings. The company has five directors, Greg, Henry, Kate, George and Michael. At a board meeting on 21 March 2021 the directors learn that the company has won two contracts: a $20 million public tender to renovate Commonwealth government buildings in all major Australian cities; and a $30 million private contract to build a skyscraper in Brisbane. News about the public tender is announced on a website of the Commonwealth government and is available to the public. News about the private contract has not been released to the public. The board agrees that it will wait until 28 March 2021 to notify the Australian Stock Exchange about the news of the company securing the public tender and the private contract. The directors are excited by the news, so on the evening of 21 March 2021 some of them tell their family about the public tender and the private contract. Henry shares the news with his son Bert (who works as a primary school teacher), George tells his daughter Maggy (who works as a bank manager), and Michael tells his son James (who works as a stock broker). 5 On 22 March 2021 Greg and Henry purchase $20,000 worth of shares in Bricks n Mortar Ltd. On 23 March 2021 Maggy calls her father, George, on the telephone and says: Dad, we could make some money if we buy shares in the company. What do you think?. George replies: Yes, but you can buy the shares in the company. Maggy then contacts the securities trading arm of the bank which she works for, and purchases $25,000 worth of shares in Bricks n Mortar Ltd. Government regulators notice suspicious trading activity in relation to shares in Bricks n Mortar Ltd. The Australian Federal Police then raid the companys offices.

Use your knowledge of Australian company law to advise whether:

(a) Greg, Henry, Kate, George, Michael, Maggy, James and Bert have committed any securities trading offences prohibited by the Corporations Act 2001 (Cth) [15 marks];

(b) Bricks n Mortar Ltd has complied with its obligations under the ASX Listing Rules [5 marks].