I assume they are waiting for the dust to settle until after the transaction is complete before announcing anything. What is the point in releasing information that props up the share price which then goes into the pocket of the people that weren't going to stick around anyway?
I'm talking about Credit Suisse and Goldman Sachs (but also Canaccord, Morgan Stanley and Merrill Lynch to a lesser extent).
May as well wait a week or 2 to see who's sticking around.
And before anyone bothers to mention continuous disclosure rules... I have no idea but I'm fairly certain I could come up with a million reasons (excuses) as to why certain information was not in a state where it could not be disclosed to the market (you might have negotiated to buy an asset but are spending "extra time" sorting out the details of the agreement).
It's completely frustrating as a shareholder but I can understand why they might delay progress (or news of progress). I'm expecting/hoping for a little taster shortly after the payment goes through (to keep people engaged). And then the beginnings of more substantial news/progress a few weeks after that.
PSC Price at posting:
98.5¢ Sentiment: Buy Disclosure: Held
