https://www.asx.com.au/asxpdf/20200817/pdf/44lk7zrghnkvv5.pdfOn
17 August 2020, BrainChip announced on the ASX they were partnering with Magik Eye to
“market a breakthrough solution for object detection, object classification and gesture recognition…” based on Magik Eye and Akida technology (see link above). This announcement was marked as Price sensitive. I believe the BRN share price rose close to 20% by close of business that day.
In this announcement, BrainChip advised “This partnership is for
one year and can be
extended by mutual consent of the parties”.
When discussing the partnership, the former CEO, Louis Di Nardo, described the upside as “very, very significant” (see herefrom the 3.43 mark). His words clearly show he saw this Partnership as materially important to BrainChip.Many HotCopper posters were also extremely excited by this announcement.
For example,
@Fact Finder wrote things like:
"
Those stragglers who have been left behind are going to be collected today. Have your bags packed the train is due at your station at five past tenses and it’s not going to wait for long.So pleased we are all going to finally be on board.Read this announcement and this is the sort of project that will drive BRN’s future. Linking up with other revolutionary inventions that have been held back by the absence of a brain on a chip.We can tell our grandchildren we watched the forth technological age dawn.Congratulations to the CEO and all at BRN". (see
here),
and"
Yes just thinking same thing and have sent messages to all those I know who hold just in case they had on a sell order that they now would not want to go through", (see
here)
So Happy Anniversary everyone! It is now 2 years since this price sensitive announcement was made to the market. It is also roughly one year since BrainChip and Magik Eye presumably made a decision whether to extend their partnership or not.
Does BRN not have an obligation to inform the market whether this partnership was extended or not?
(20min delay)