crazy there are many scenarios that can arise.... however the most crucial event is a downgrade to guidance in the next 2 weeks...
the laws on disclosure are technical and complex and integrate fixed and interpretation rulings
your scenario of 9% miss to guidance...
rule in terms of extent of surprise (your basis) to guidance is as follows:
- <5% no disclosure required
- >10% disclosure required
- 5-10% varies case to case
rule in terms of misleading the market
- misleading market of their likely earnings... this is open to interpretation however AGI stated a minimum PBT of 56m for FY17 guidance... hence anything below will constitute misleading the market ... even 1% below.
so they would have to update or head to the courts
in fact in 2015 this scenario played out ....
- Guidance of growth on pcp revenue of 244m in 1H15 presentation
- trading update early June 15 stating revenue will miss 244m by 2% ... not 10, 9 , 8, 7 .... % just 2%
as how it all unfolds depends on event and share price at the time...
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Price($) | Vol. | No. |
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