Ann: Resignation of CEO and Managing Director, page-5

Assuming there has been complete disclosure of price sensitive information then I think you may well be right. Price reaction is clearly a knee jerk reaction but there is now a level of uncertainty that wasn't there yesterday so to some degree justified in the short term. As a long term share holder I hold Tony Toohey in very high regard and was personally sorry when he stepped down from the roll of CEO. If he hadn't stayed on as deputy chairman I would have sold out then. Glad he is still around.