Not sure why company was forced to release P1; possibly a leak.
I don't see any reason that a company would have to release an appraisal at all, so long as it's not selectively leaked (I don't think it's like one of the government mandated reports on reserves for mining companies, the instrument number of which eludes me now). An appraisal is just the opinion of an expert on the value of something, I don't think it's a material fact or event that mandates disclosure.
Now, my understanding is that the company intends to disclose and that's fine. But I can't see a reason, other than a leak occurs, why it would have to be disclosed. It could be for the private and confidential use of the board of directors in figuring out whether to entertain an offer or not. I can certainly see a securities attorney having heartburn over a total or partial leak of the info, though, and at that point urging the company that the most prudent course of action is to make the report public.
