MSB 3.06% $1.01 mesoblast limited

Ann: MSB Presents Commercial Plans at 2020 Biotech Showcase, page-39

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    As @Treed has pointed out, Listing Rule 3.1A.1 allows for exceptions to continuous disclosure (basically breach of a law, incomplete proposal or negotiation, matters of supposition or insufficiently definite, generated for internal management purposes or trade secret). In addition to satisfying one of these conditions, the information is confidential (and ASX has not formed the view that the information has ceased to be confidential).

    Note that confidentiality on its own does not get you off the hook (although companies often use the 3.1A.3 carve out that "a reasonable person would not expect the information to be disclosed" to redact confidential information such as royalty rates etc).

    In my view none of those grounds would apply if you wanted to withhold results because of commercial negotiations - although you would not have an obligation to disclose the negotiations themselves under the "incomplete proposal or negotiation" and "insufficiently definite" situations (unless you saw a false market developing in which case 3.1B kicks in).


 
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