RE: Telegram group7 Jun 2022 12:29
“POG are a listed company etc”
This suggests to me that they don’t have to release an immediate RNS during TO talks but have to release one prior to the big announcement.
There are lots of exceptions and I’m sure if they were legally bound to RNS then they would. Any release could go either way on the price and in the terms of a TO they can’t risk the SP dropping or rising massively as that would have an immediate impact on the price being negotiated.
9.4 A company need not notify to a Regulatory Information Service information about impending developments or matters in the course of negotiation, and may give such information in confidence to recipients within the categories described in paragraph 9.5. If the company has reason to believe that a breach of such confidence has occurred or is likely to occur, and, in either case, the development or matter in question is such that knowledge of it would be likely to lead to substantial movement in the price of its listed securities, the company must without delay notify to a Regulatory Information Service at least a warning announcement to the effect that the company expects shortly to release information which may lead to such a movement.