The Proposal Offer was not disclosed at the time the Proposal Offer was received since it was confidential, non-binding and indicative. GLN therefore considered that the Listing Rule 3.1A exception for confidential, incomplete proposals that a reasonable person would not expect to be disclosed applied so as exempt the Proposal Offer from being required to be disclosed under Listing Rule 3.1
so the Board thinks an incomplete proposal priced at 2.5× the then share price is something a reasonable person doesn't expect to be announced....
let me say this.. they better have adequate professional indemnity insurance coz they will get sued in 12 months time...
GLN Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
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