The investor presentation showed an EIS issue date of Q3 2023/Q1 2024* and a ROD issue date of Q1 2024*, which has remained unchanged throughout the year. Also p.g. 50 in the Annual Report 2023 states, "The Company's current best estimate is that a ROD could be received in Q1 2024". Although dates could always change, I can't see any new information or hints of a delay in the recent releases.
Whilst Calaway does use "first half of 2024", I'd argue using * (Dates subject to change) in a Chairman's letter looks unprofessional, so he is probably de-risking his estimate/statement. If that is the reason for the sell-off, that is laughable and unjustified.
Ann: Annual Report to shareholders, page-6
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