History and Outlook, page-92

Why blame posters - its one of the most frustrating issues on Hot Copper. You have got to ask yourselves who created the position you find yourselves in. The actions below all relate to the company and not the posters on HC.

1. The company refused to disclose normal details regarding the sale agreement. If they had there would not have been any suspension.
2. If it was a binding agreement and you knew that the company that bought the asset had the cash or assets to pay for it - why if it has no suspensive conditions can you not disclose it - or at least disclose it when the deal becomes unconditional.
3. When the deal did not conclude on 30 November the announcement (my opinion) is ambiguous. An extension is just that a longer period within which to settle requested by the buyer. Then the next part becomes more interesting : "The Board of Directors is negotiating amendments to the transaction documents and will advise of the outcome of negotiations as soon as complete." - What is there to negotiate - surely if you have an enforceable deal you agree a date and move on. That date should be released to the market as the previous date was. Amendments almost suggests more than just an extension but that there is more to resolve. Its now 28 December and I presume they knew that it would not occur before the death so that time in play must be longer than 28 days. If I was to have a guess - it isnt going to happen and that is based upon what has happened in the past with AZZ and just the passage of 4 weeks and no communication. All my take on it.
4. This has happened before in AZZ - Maybe not exactly the same but confidential deals have not settled.

I wouldn't be surprised if it doesn't trade until the notes issue is resolved in March.