Listing rule 3.1:"3.1 Once an entity is or becomes aware of any...

Listing rule 3.1:

"3.1 Once an entity is or becomes aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities, the entity must immediately tell ASX that information."

Listing rule 3.1 does not apply under 3.1A.1, amongst other things, if:

"The information concerns an incomplete proposal or negotiation."

The big question is, if they have relied on 3.1A.1 as the reason to not inform the market, then why have they informed the market today. There appear to be grounds.