Continuous disclosure requirements
"Section 674 of the Corporations Act 2001 and ASX Listing Rule 3.1 require an entity, on becoming aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of securities, to immediately notify ASX of that information unless an exception applies. A reasonable person is taken to expect information to have a material effect on the price or value of securities if the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether or not to subscribe for, or buy or sell, the securities."
I am no lawyer and I dont work at the ASX but from a laymans point of view
if ESG has the resources upgrade results and this was not released to shareholders and now there is a no talk agreement in place does this accord with Section 674.
If there are resources upgrade known then i as a resonable person would expect this info to be published.
If there are resources upgrades known to the board and Santos then I think Santos has been influenced to buy ESG.
This information should be released to the market to attract other offers.
The GEO reports and the GEOS know how long ESG has been sitting on these reports and the question is why wasnt this info released as required to the ASX and the market.
I think its time for the ASX to have a peek under the covers
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