Doesn't matter if it is bad news and not considered progress. Still has to be disclosed under the listing rules. But they probably think they don't have to disclose because it is an incomplete transaction. That would be the case if they said nothing about this incomplete transaction in the first place. But because they decided to pump everyone up with this pending agreement well before Xmas, so I don't think they can hang their hat on that defense.
Doesn't matter if it is bad news and not considered progress....
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