【分析解答题】

Philip is a director of two listed public companies in which he has substantial shareholdings:AA

A、plc andBBB、pl
C、The annual reports of bothAA
A、plc andBBB、plc have just been drawn up although not yet discloseD、They show thatAA
A、plc has made an unexpected large loss and thatBBB、plc has made an equally surprising large profit. On the basis of this information Philip sold his shares inAA
A、plc and bought shares inBBB、pl
C、He also advised his uncle Michael to buy shares inBBB、pl
C、Michael who is also a shareholder in both companies sold a good number of shares inAA
A、plc only the day before its annual report was publisheD、Required: (b)Advise Michael as to his position. (2 marks)