ainsleyem - you're partly correct regarding market sensitivity. However, the company (entity) is required to provide the ASX with guidance as to whether an announcement is considered market sensitive or not and the ASX makes the final decision. See section 7, page 5 in the following link:
https://www.asx.com.au/documents/rules/gn14_asx_market_announcements_platform.pdf
Regards, Merry Xmas and GLTALTH!
Ann: Market Update, page-28
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