Next year's guidance would have been based on performance year to date which directors would definitely have known of. If Mr Punches was retiring as a director (and he is continuing as a consultant) I see no reason why he had to sell in advance other than that he knew which direction the share price was going after the AGM. To me that is simple insider trading.
CLH Price at posting:
$2.09 Sentiment: None Disclosure: Held
