RE: Scally news leak18 Dec 2020 09:37
Hi Flashy,
No probz at all, and fully get your point.
The main thing with price sensitive info is that is does have to be released however until a decision is made to release it must be kept within the knowledge of those ‘inside’ and can only be made public in the prescribed fashion.
Various companies have totally different policies on this whilst staying inside the rules. Some companies release drilling results, for example, on an interim basis whilst others choose to release all at the end of a season’s campaign.
Let’s use the latter as a further example. All the drill results (I appreciate there are a whole host of other forms of price sensitive data) are back. The results are good. (Or bad as the case may be) Some would say they should be released however the company choose to carry out further assessments of the results before release. This is acceptable. Then they start to compile a report however other factors become known before they release and need to incorporate this new info into the report. Maybe two or three weeks have gone by BUT the results are still ‘inside’.
Finally a third party (eg interested major) is made privy to the results (more likely they have been made aware of progress reports all along mind) and they ask for time to view them (just like NCM were doing with drills at Hav well before release) as consideration being given to corporate action. So long as the other company is brought ‘inside’ it is within the rules.
Finally the company make results public via approved conduit. (RNS)
UR