1) The ASX shouldn't have let the announcement through the vetting process without such important material information being provided in the first place. As I picked earlier, by bet for the notice was an ASX clarification of details, which were very thin - fuding identity goes straight to credibility, confidence and investor conviction. No doubt the junior officer who monitors PDY is now feeling the heat, but they are human and under pressure from often covering a large number of companies - occasionally inadequate announcements do get through.
2) who is advising PDY on what they need to say to the market? Any lawyer worth his salt would have known, you cannot be so vague. Certainly the listing rules are clear on this. They would have had to convince ASX that withholding the details was required because of confidentiality. Not a chance.
3) yes a T/H has a 2 day limit, but they can elect to go into voluntary suspension if there are still details to work out.
4) Very much hope for the sake of the company, investors and the region, that the ID announcement stacks up.
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
