Failure to disclose?, page-59

If there was an NDA between ALB and LTR then LTR would only have been able to disclose the offer to market under a couple of scenarios (see references below).

The ASX listing rules state that LTR did not have the obligation to inform the market unless the information about the offer was:

1) no longer confidentiality OR
2) the ASX required them to disclose the information to correct or prevent a false market under
LR 3.1B

Is number 1) possible? Maybe the agreement was interpreted to have ended when LTR rejected the final offer so it was no longer confidential? Maybe not the case since there is no mention of the offer being final etc.

Alternatively, could LTR have approached ASX to ask the question as to whether there was a false market in the ASX's view from when the share price dropped in December (a market reflecting a lower for LTR than the offers)? Maybe the ASX didn't reply or didn't consider it to be false until a later date?

ASX in the guidance note below encourages reporting by the company of a potential false market, stating they should "contact their listing advisor immiediately".

References:

https://www.asx.com.au/documents/rules/gn_8_presentation_2012.pdf

Continuous Disclosure: Listing Rules 3.1 - 3.1B