Geez, these guys just don't learn. On one end, I do recall GV saying he wasn't going to announce every Term Sheet / MOU he had entered. Which I was always perplexed with, as a shareholder I want to know all the facts and make an informed decision based on that. Certainly, had I known this Term Sheet was there, I would have bought at 15c having looked into the background of the Vietnamese deal. Seems some leaky rats did though.... And for it to bump the SP 20% on a day, seems the market too would classify this as having a "material effect on the price of the securities". So another red mark for me, amongst many, for the governance and conduct of this Board over the years.
On the other hand, CP of FID by end of year, seems another rendition of Meridian. And one may have discounted any accretive value ascribed to this TS the closer we get to Xmas.
I don't know what else they have in TS or MOU territory but I am sure we have a right to know before they run out of money again and do a dilutive capital raise where no-one knows all the facts.
So I am thanking the ASX for getting from management what we don't ordinarily get in the cupboard.
LNG Price at posting:
29.5¢ Sentiment: None Disclosure: Held
