Shares of Aurizon Holdings (ASX:AZJ) fell nearly 1% in recent Tuesday trade after the company said in a late Monday Australian bourse filing that it has agreed on a non-binding term sheet that will guide the drafting of a new Draft Amending Access Undertaking (DAAU) with the Rail Working Group.

The proposed DAAU would be effective after the expiry of the current Access Undertaking on June 30, 2027, the filing said.

The parties expect to submit the draft to the Queensland Competition Authority in the December quarter, the filing added.