Graham The thought processes are insightful. In my experience regulators can really say and do whatever they like and this is another example.
It was clear to me that Coastal wanted the document disclosure so they could make an informed decision on whether they should accept the PPX 250:1 offer. This is a different decision to deciding whether to but PXUPAs.
Yet our friendly regulator "in the absence of Coastal Capital explaining how these documents may be relevant to the bid, it is not clear why these documents are now required to be disclosed."
Unfortunately this is an old legal ploy to prevent documents being disclosed ie requiring those seeking the documents to establish specifically why you want the doc - yet how can you if you have not seen the doc?
Aaah....Regulators and lawyers at work :)
My view is if they won't provide the docs then there is something in there that needs to be seen!
SRS Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
