During the Aug 2016 & Nov 2016 AGM conference call, this was...

During the Aug 2016 & Nov 2016 AGM conference call, this was talked about as the end of year update we were all waiting for. This is the first of two major initiatives
If you listen to what was said, it’s very clear that the estimated time for completing this agreement was way more complicated than first envisage. We have a document for which will cover many aspect within an organization, such as Engineering, Maintenance, Supply chain and Finance.

If only the MD & CEO and board would have informed the market back in late August that the aggreements were way off previously pumped projections. Instead they briskly sold 80% of their holding. Then continued from 31 Dec onwards selling. Here we are in April 2017.
Beggars belief how brazen this selloff was by the insiders.
I have no poblem in waiting but it doesn't ingender confidence when the board, save for Mike, have sold off so brazenly (i.e TC)
Here is the announcement they should have put out in August (when they clearly knew there was no way a deal would be done anytime soon or even by Xmas)

Due to the complexitiy and unprecendent nature of the market opportunity for SMN the board sees the previously held view of an imminent agreement taking longer than first thought. The company will update shareholders at the AGM.

That is what should have occurred but greed got in the way