The only comment I can make is that I know more about ASEO - public knowledge only, which is very little than I know about a public listed company AZZ that I am invested in.
I have no idea who the buyer is - did they have the money.
We agreed to sell the assets - no sight of agreement.
We are spending money continuing to develop the asset - No idea if we are to be reimbursed.
The operational reports do not inform us if the results are good or bad or if they are grounds for the buyer to exit agreement.
Bluntly put this is really blind faith in my opinion.
We vote in favour and then trading halt and then need till 5 February - why have a trading halt if you knew you were not certain of reporting back to shareholders. We really dont have any idea whatsoever about the nature of this - dont say operational - anything could be operational. Know I truly know what a mushroom feels like.
They could have amplified and said it is unrelated to the asset sale or it relates to the purchaser etc etc.
Never again - once out I will never invest in this management team again.
AZZ Price at posting:
51.5¢ Sentiment: None Disclosure: Held