Originally Posted by
Poet
"formal guidance for FY17 by AIR management themselves had not been formally issued before so technically one can't say it was a downgrade per se"
That's true in a strict sense Roger, but nevertheless presumably the management knew at least a week ago that they were going to inform the market in this week's investor briefing that next year's earnings would be below this year's earnings. So on the face of it, at the time they were dumping the free shares that we gave them for doing such a good job of looking after our interests, they were in possession of relevant insider information that had not yet been released to the market (that information could have been released a week ago, prior to their selling spree, but if they had done that maybe they wouldn't have got as much for those shares)