It all depends on GH's intentions. If his intention was to...

It all depends on GH's intentions. If his intention was to mislead, then hi,ho, off to court we go.

BUT, it looks like he was keeping in line with ASX rules.

Market got a whiff of a CR or funding negotiation, so he called a TH. Then released in an update, in line with the TH and possibly disclosing the nature of the negotiations.

Negotiations did come to fruition, so the VA was called. A lot can happen in 2 days. Situations change.
I dont think any of us expected him to come out and say "look, we're negotating, but if it doesnt work out, we're all screwed"
IMO..It would have been more cut and dry if the TH rolled into VA without trading.