I agree. It is a dilemma for any company to answer the question...

I agree. It is a dilemma for any company to answer the question truthfully if they have something in the works but cannot announce due to confidentiality or other reasons. I assume the purpose of the question is to weed out potential trading on insider information. Perhaps the question should be put privately to the company and answered privately and if the answer is in the affirmative then the ASX should be bound by the same confidentiality agreement as applied to the other parties. That would allow the ASX to check who made purchases (or sales if applicable) at the hyped prices and whether they were company insiders or related in any way.

Putting a question that the company cannot answer truthfully as you said seems pointless. Is there any precedent for action having been taken against companies that answered NO, but subsequently were found to be sitting on undisclosed price sensitive information?

That aside, I hope it isn't a potential takeover that is the unannounced news. I don't really want to be bought out at anything under $1.50 when the long term potential with BB at the helm is blue sky. From a tax point of view, this is also the wrong time for me to be making big capital gains.