Hi Topwon,I look at the definition of price sensitive in ASX LR...

Hi Topwon,

I look at the definition of price sensitive in ASX LR 3.1 for guidance there.

http://www.asxgroup.com.au/media/PDFs/Chapter03.pdf

On the other hand your discussion does raise another point. It is not an offence to be in possession of inside information, it is however an offence to directly or indirectly use it for benefit (including inducing a third party to do such).

I still com back to the point that even if negotiations regarding a JV are in progress, which was implied by PL in his comments, then that would have a significant impact on the NKP share price in an upward direction.

You need to consider this in light of rthe disclosure requirements of LR3.1B., which basically says:

"Listing Rule 3.1B imposes an additional disclosure obligation to prevent a false market for a company?s
securities. Listing Rule 3.1B provides that if ASX considers that there is or is likely to be a false market in a company?s securities and asks the company to give it information to correct or prevent a false market, the
company must give the information to the ASX."

The false market arising in that the NKP price did not take account of a significant event in progress, ie the negotiation of a JV.

Apologies as I have gone into much more depth than intended. I will close by saying have a look at the exceptions to the attached LR and the guidance note.

Cheers