I wouldn't characterise it as subterfuge. for me it is logical and indeed necessary
If they are doing a funding deal that has an equity component, how can they sign that deal if they are in breach of ASX rules re the 15%? hence get the waiver and then sign the deal.
when i say done, i didnt mean 100% done, i meant done subject to this particular point, hence no breach of ASX rule re disclosing funding.
In my line of work i am often doing financing deals that take a long time to negoatiate and there are done subject to one final gating issue which doesnt allow either party to back out. So you are not technically 'done' on the deal but once that one gating issue is solved, the deal is done and then at that point needs to be disclosed to exchanges / authorities. its pretty common
PAR Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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