Gave the people that are working hard to make it happen the benefit of the doubt for the whole period to 30th November, and they didn't have the decency to inform us that completion was delayed when this was evident on the 2nd November (as it takes 28 days to convene an EGM).
It is time to raise the stakes and put pressure on, so they know that their failure will result in some angry shareholders that want ASIC/ASX investigations into these matters.
You cannot tell the market there is a transaction with no conditions precedent that will complete on or before 30th November, and then give no reason as to why it didn't complete except that the the buyer wanted a request for extension - why wasn't this advised to the market if the buyer had an option to extend the whole time (a reasonable person would expect this to be a material term of the transaction and hence it should have been included in the original announcement).
AZZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held
