FYI,
Under ASX Listing Rule 3.1A.1,
incomplete engagements may not need to be disclosed if they meet certain criteria. Specifically, the rule provides an exception to disclosure if:
- The information concerns an incomplete proposal or negotiation.
- The information is confidential and has not been disclosed to the market.
- A reasonable person would not expect the information to be disclosed.
However, if the incomplete engagements are likely to have a
material effect on the price or value of the company's securities, or if the ASX believes a
false market exists due to rumors or speculation, the company may be required to disclose the information to correct or prevent the false market.
The problem is if they make any hints or announcements concerning engagements in any way, shape or form and there are rumors which creates a false market BRN is expected to breach NDA agreements by the ASX.
They may lose the deal as a result.
That is why we can't get the slightest sniff of what is happening in relation to engagements.
It may be frustrating but it's just the way it is.That is another problem in the Early Adoption cycle stage of techs - many clients do not want their competitors to know what they are doing hence NDA's.