Big companies negotiate contracts worth millions of dollars or takeovers involving billions and don't need to call a trading halt while negotiations are in play.....there are NDAs that can be put in place if there are concerns that staff are going to leak something
the issue is that these 'material contracts' always seem to pop up around key reporting dates.....and for some reason are not quite finalised so there is never a concrete number just potential and conjecture which some retail investors get carried away with (hence it's appropriate that the ASX police this)
Some negotiations takes weeks....Olsen imposed this deadline on himself and could not furnish an announcement or did not provide something that the ASX was comfortable with........about time he (and others particularly in the small/microcap world) got called out on it.
Retail investors like most of bear the brunt of what this seems to be..........an attempt to not be absolutely honest with the people that have invested in the company he runs
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