There may be problem ! The only director left holding unexercised 31 August 08 options is Greg Hancock, who holds 1 million. The suspension does not alleviate the need to immediately advise the ASX if options are exercised (Listing Rule 3.10). So why has he let these options lapse ?, not exactly a vote of confidence, particularly with a strategic corporate agreement in the offering. The prospect of this wouldn't have restricted him from exercising the options. I'm getting nervous, regardless of the complexity it is most unusual for an agreement such as this to take so long. The norm is the framework is established before a TH is called, then you just fill in detail. If you don't have the deal effectively locked away before a TH / suspension you lose your negotiating ability because the other party knows your obliged to do the deal, or risk looking like an idiot to the market if you can't complete. I suspect somethings gone wrong.
AQD Price at posting:
19.0¢ Sentiment: None Disclosure: Held
