Field Notes
Quiet periods, open questions
How closed-period calendars interact with dealing notices — and what remains unknowable from public filings alone.
Closed-period policies are company-level rules, often summarised in annual reports or governance statements. Dealing notices are event-level facts. Putting them together is useful; treating the policy text as a complete map of what was allowed is not.
What we can verify
Whether a reported trade date falls inside a disclosed closed period, whether the notice cites an exemption or plan, and whether the company’s own calendar was updated in a filing the market might have missed.
What we cannot verify from paper
Verbal clearances, informal blackout extensions, and unreported advice. Those absences stay labelled as absences in our briefs.
For desks under time pressure
If you only need a yes/no on calendar overlap, say so in the intake — the review can be narrower and faster than a full cross-read of every concurrent notice.