ABC Berhad has fixed the targeted date for announcement of its 1st quarterly results for 2010 on 15 May 2010. Mr X, a director of ABC Berhad, intends to deal with the shares of ABC Berhad. If the announcement of ABC Berhad's 1st quarterly results is made on 15 May 2010, what is the closed period for dealings by Mr. X?
Closed period is defined in Rule 14.02(b) of the ACE LR to mean a period commencing 30 calendar days before the targeted date of announcement of a listed corporation’s quarterly results up to the date of announcement of the quarterly results.
As the targeted and actual date of announcement for ABC Berhad's 1st quarterly results falls on 15 May 2010, the closed period for dealings by Mr. X will commence from 15 April 2010 until 15 May 2010.