BPH Global has clarified the timing and rationale behind its disclosure of a binding Memorandum of Understanding with Indonesia’s National Research and Innovation Agency, confirming compliance with ASX rules.
- MoU signed and exchanged on 5 February 2026 after market hours
- Disclosure made on 6 February 2026 following formal confirmation
- BP8 cited confidentiality and incomplete negotiations as reasons for delayed disclosure
- No prior information shared with placement participants before market announcement
- Company affirms full compliance with ASX continuous disclosure obligations
Background to the MoU
BPH Global Ltd (ASX, BP8) recently responded to an ASX Aware letter concerning the timing and disclosure of a binding Memorandum of Understanding (MoU) signed between its Indonesian subsidiary, PT BPH Global Indonesia, and Indonesia’s National Research and Innovation Agency (BRIN). The MoU was formally signed during a ceremony in Jakarta on 5 February 2026.
The company explained that while draft terms of the MoU had been circulating since mid-January, the agreement was subject to ongoing clarifications and negotiations. BP8’s board decided to attend the signing ceremony without certainty that the MoU would be executed on the expected terms, reflecting the fluid nature of such international agreements.
Disclosure Timing and Compliance
BP8 confirmed it became aware of the binding MoU only upon receiving formal confirmation of its execution and exchange at approximately 6pm AEDT on 5 February, after market trading hours had ended. The company argued that prior to this confirmation, the information was incomplete and confidential, and thus not required to be disclosed under ASX Listing Rules.
The announcement was subsequently released pre-market on 6 February 2026, following internal board approval and inclusion of additional details obtained during the signing ceremony. BP8 emphasized that releasing the information earlier would have been premature and potentially misleading, given the incomplete status of negotiations.
No Preferential Disclosure and Regulatory Affirmations
Importantly, BP8 stated that no details of the MoU were disclosed to the lead manager or participants of its recent placement prior to the public announcement, ensuring compliance with Listing Rule 15.7. The company also confirmed it remains fully compliant with continuous disclosure obligations under Listing Rule 3.1.
The response letter, signed by company secretary Justyn Stedwell on behalf of the board, was submitted to ASX Listings Compliance as part of the regulatory review process. This exchange underscores the importance of transparency and adherence to disclosure protocols in maintaining investor confidence.
Looking Ahead
While the MoU signals a potentially significant strategic partnership for BPH Global in Indonesia’s research and innovation sector, the company has yet to disclose detailed commercial terms or financial impacts. Market participants will be watching closely for further updates that clarify how this collaboration might influence BP8’s growth trajectory and shareholder value.
Bottom Line?
BPH Global’s careful disclosure approach highlights the balancing act between confidentiality and transparency in cross-border deals.
Questions in the middle?
- What are the specific commercial terms and financial implications of the MoU for BPH Global?
- How will this partnership with BRIN influence BP8’s operations and growth in Indonesia?
- When can investors expect further updates or formal agreements beyond the MoU?