What would be interesting to know is the date at which SXY’s intention to separate and reduce the gas sale agreement to GLNG to 16TJ (From 50 TJ) was discussed at any Board meetings.
EIG entered into a transaction to reduce their shareholding on 22 August 2018 (but had Board representation prior to this date, which has been retained).
Surely if EIG were aware of SXY's intention to split the gas sale agreements with GLNG, then they should have not been allowed to trade until this information was made known to the market. Whilst this was released to the market on 11 September, it is very likely that the intention to perform this was communicated internally prior to this date.
I have requested that SXY provide me with the date of the Board meeting at which SXY’s intention to separate and reduce the gas sale agreement with GLNG was discussed.
I will may well refer this matter to ASIC for further investigation.
SXY Price at posting:
46.3¢ Sentiment: Hold Disclosure: Held
