RE: Sgc27 Apr 2018 16:01
Example 2: entity B is in the final stages of confidential negotiations with C regarding the purchase of a material mining tenement. Speculation emerges in the media about the transaction that is reasonably specific and detailed, and the price of B�s securities starts to rise. ASX contacts B to ascertain if the speculation is correct or if B is aware of any other reason for the increase in the price of its securities. Upon being told of the purchase negotiations, ASX suggests that B needs to make an announcement to the market about the transaction, as it no longer appears to be confidential and therefore is no longer excluded from disclosure under Listing Rule 3.1A. B anticipates being able to conclude the negotiations with C and make an announcement about the transaction to the market within the next two trading days.
B considers that it would be appropriate to request a trading halt to allow it to complete the negotiations with C and to make a more definitive and informative announcement to the market about the concluded transaction than to give an immediate announcement about the current state of the negotiations. B�s request for the trading halt, which would be released to the market, should mention that B is in negotiations with C regarding a material acquisition of the tenement in question and that B expects to make an announcement about the conclusion of the negotiations within the next two trading days.
In this case, ASX would likely grant a trading halt for two trading days.