I kept wondering why this earnings guidance looks like a downgrade, when its actually an upgrade on the obscure half yearly guidance?? So I took a look at the New CEO's Remuneration details in the announcement when he was appointed.
Well, well what do you find.
Plenty of incentive there to 'Manage' EPS lower through accelerated investment etc as the base is not set until July 2016 but the real kicker is the reference period for the portion of rights that has an exercise price is:
Column 1 1 The Reference Price is the volume weighted average price (VWAP) of Infomedia’s shares over the one month period immediately preceding the beginning of FY17 (i.e., VWAP for June 2016).
News: IFM Infomedia expects to deliver revenue growth of about 12 pct for the year, page-12
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