Just in case anyone has any further doubt about the fact that in commercial agreements particularly when the party you are dealing with may in fact be negotiating with other parties concurrently and does not wish to be identified, think back to when Antares sold their remaing interest in the Hawkeville field in the Eagleford in April 2013.-
"Additionally a free carried Over Riding Royalty Interest in the Eagle Ford was sold for an additional 10,000,000 USD to a confidential buyer, after BHP Billiton Ltd executed a takeover of Petrohawk Energy Corporation."
Guess who the confidential buyer turned out to be....BHP! Yet at the time AZZ had signed a confidentiality agreement that stipulated they were not to release the identity of BHP. Back then no questions were asked although I suspect once the ASX realised who they were dealing with they did not press them to release and even if they did, what management team would breach a contract with the likes of BHP and put the deal at risk . The same applies here. The company has/will provide the ASX with a copy of the PSA, the ASX will be able to see in black and white the deal and it will be game on when the stock resumes trading.
AZZ Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
