news in 2012 vs. news in 2011

Re: AVB Company Announcements in 2011

I’ve had a quick look at the pattern of news announcements for 2011.
As far as I can see, a total of 64 announcements to the ASX were made by AVB in Jan-Dec 2011. These included the following types of announcements:
• 2 x Responses to ASX Queries
• 3 x Director’s Interests
• 8 x Quarterly Reports
• 5 x Major Reports (e.g. Annual Report)
• 25 x Appendix 3B
• 21 x Operational (e.g. exploration results)

The time of day that announcements were made followed a fairly strong pattern with few exceptions:
• Director’s interest announcements were made after the market closed
• Major reports were released after market closed
• Quarterly reports were made after midday
• 76% of appendix 3Bs were announced some time after midday
• About 90% of operational announcements were made before 10.30 a.m. with about half overall coming before the market opened on the day.

I’d be interested to know what people think about the timing of what I have called operational announcements. The question for me is would the share price have been any different today if AVB’s operational announcements were spread somewhat less predictably throughout the day in 2011? A follow-on question is can we expect a different pattern of timing of announcements in 2012?

This was just a quick look and my apologies for any errors in this quick look. Don’t rely on my summary and interpretation to make investment decisions. It is intended for curiosity value, not investment advice.

Cheers and all the best to everyone for 2012.