Agreed, the resolution of the dispute should be a matter for the public record. As the dealings between BYL and Main Roads WA are consistently raised in Parliament WA, and reported in Hansard, it seems that making the settlement confidential is odd. Also, Hansard has recorded the dispute to be over $9.55 million and $0.64 million, so the after-tax impact is significant, $7.133m. Even a compromise could be significant.
The confidentiality provision is probably illegal, because members of Parliament have a right to know, if they ask, which will happen, and BYL as a public company is obliged to report material facts to ASX.
One should not be too hasty to blame Management, because Main Roads WA may have attached a confidentiality provision to the settlement, and BYL would potentially damage its relationship with a significant repeat customer if it ignored the whims of Main Roads WA.
If one has $10.19m on the table, what is a “satisfactory” settlement? Every $1.8m ($1.265m/ .7) would be worth 1c per BYL share.
Agreed, the resolution of the dispute should be a matter for the...
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