I think it was a simple case of Norman's 5 year target being mistakenly stated to be FOD's 5 year target. Clearly if he is incentivised to achieve that target, and he is the Chairman, he will be doing everything possible to ensure FOD achieves that target. That serves both his personal interests, and the interests of every other shareholder.
Class action claim is ridiculous. The main point of giving performance shares is to align the holder's interests with the Company's. Nobody lost anything because of a statement that said FOD was targettiing $500m revenue. Note also the price went higher after the retraction.
Move on. It was a very positive day for FOD, despite some admin stuff ups with announcements (nothing new for this company). Hopefully more positive news on the way.
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- Ann: Retraction of Statement and Clarification of 5 Year Target
Ann: Retraction of Statement and Clarification of 5 Year Target, page-7
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