"Its around 1.8% of last year's full-year revenue. Does that constitute price sensitive?"
This is starting to sound like a theological argument about how many angels can fit on the head of a pin.
The test of whether an announcement is market sensitive is whether "a reasonable person would expect the information to have a material effect on the price or value of the entity's securities". Listing Rule 3.1,
Since 2018 the companies have been required to advise whether they think an announcement is price sensitive but the ultimate decision is made by the ASX.
In the case of today's announcement by PME, the proof of the pudding is that the stock went up 1.55% on a day when the XAO was down -0.84%. I think it is safe to say that the announcement influenced the price.
Today's announcement is further proof that PME can catch sardines as well as flashy tuna. That's important because in PME's fishing ground there is a much greater weight of sardines than tuna. Flashy tuna for show, sardines for dough. Yes I know, give up with the tortured analogy already.
Cheers
PME Price at posting:
$79.37 Sentiment: None Disclosure: Held
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