Ann: Trading Halt, page-40

If I had not been a hot copper reader who watches the GMV forum nearly every morning before the market opens, and brosef (thanks!) had not posted the information, I would not have known about the TMT analysis.

Since the report was commissioned by GMV I feel that everyone should have had a chance to get access to the report at the same time. I.e. via normal market mechanisms.

I strongly suspect that the reason for the trading halt is that GMV were expecting the announcement go out via ASX channels and are not happy that some gained privileged / early access to the report they commissioned. The trading halt was to level the playing field and to give GMV time to talk to TMT. They will clarify their forward going relationship and issue a press statement when that's sorted. The release will focus on what is going to happen with future announcements so everyone is clear.

Another alternative (less likely) scenario is that GMV don't like the conservative nature of the report, and feel that it underestimates revenue and artificially includes a cash flow issue in 2019. I can imagine that a reporting agency would be tempted to underestimate the GMV story, otherwise they might be seen as being way too optimistic and implicitly unreliable. They may have a plan for a series of better and better reviews over time, to create a series of press hotspots and help raise the GMV share price. I don't think Yacov would have a bar of this. He will just want the best estimate of the truth to come out at all times. Good bad or ugly.

Of course this could be complete baloney and I apologise in advance if I am wildly wrong. At least we'll know the real reason before the halt ends. If I am right then this confirms the type of person Yacov is - plays by the rules - not just legal requirements but more importantly he's ethical.

The reality of the GMV story is so stunning that its hard to believe. I'm convinced that in the not too distant future people will be talking about how they didn't recognise this unicorn.