I refer to the securities of Antares Energy Limited (AZZ) and the ASX announcement ‘Purchase & Sale Agreements Northern Star & Big Star’ released on 07 September 2015.
Pursuant to Listing Rule 3.1 Continuous Disclosure, AZZ should be obligated to provide the following additional information to the market as part of its continuous disclosure requirements.
What AZZ’s net working interest in the Northern Star and Big Star projects is (to which the consideration would be pro-rated).
Any material defeating conditions relating to the Purchase and Sale Agreements.
Whether consideration is expected to be cash.
The announcement released states ‘the Directors are pleased to advise the execution of the two independent Purchase and Sale Agreements’. As such, given that these Purchase and Sale agreements have been executed, it is imperative that the above information is released to the market to avoid a false market (especially given the significant volume on the date of this announcement). The above terms are material to the share price of AZZ and should have been released within this announcement to avoid speculation.
