I was not sure if I should post this in the POR forum but...

I was not sure if I should post this in the POR forum but figured that more people read GCN so decided here was best...

So the P1 application was withdrawn due to an offer by an ASX listed company. This is the word on the grapevine as P1 have not released any details themselves.

So the question is, why was the prospectus withdrawn if they are doing due diligence on this ASX company and have not yet accepted the offer? Would it not be the right thing to extend the offer and only withdraw it if they accept the offer from this ASX listed company? Have P1 acted in the correct manner here, according to ASIC rules and regulations? Finally, aren't P1 bound by disclosure rules which means they need to report all material events to shareholders? What about moral obligations leaving shareholders in the dark like they have?

Lots of questions...sadly, no answers.