This is not the first time that this has happened to CDX. I can think of two previous examples where their announcements failed the ASX 'sniff test' and they had to be resent out and or rescinded. Unless the third party and an amount can be named, this announcement may go the same way. I hope not but sort of expecting it.
Previously, one announcement was to do with a commercial in confidence agreement - if you can't name and shame you can't put it out - and the other was regarding a Blumio announcement and the impact it would have on CDX (they assumed full take up of option conversion or something similar) - and we all know how that panned out.
My guess (like some others above) is that the partner is not willing to be named citing 'commercial in confidence' so we are somewhat stuck between a rock and a hard place. Yes, the contract is material, no, you can't release because you are 1) too bullish or 2) the contracted party cannot be named.
I get the ASX' reluctance to publish 'ramping' statements as they were blatant and often misleading, but there has to be some leeway IF there is a legitimate and material contract - yet there is a non-disclosure clause.
This is a case of once bitten, twice shy and to be fair CDX has been guilty of past ramps (proof: look how Blumio turned out)
All IMO Charlie Long time holder and sometimes HC contributor
CDX Price at posting:
31.0¢ Sentiment: None Disclosure: Held
