publication of analyst forecasts and consensus estimates
The ASX’s Continuous Disclosure: an Abridged Guide has also been re-issued to reflect the changes made to GN 8.
The revised GN 8 is effective from 1 July 2015.
‘Market sensitive earnings surprise’ is where actual or projected earnings differ so significantly from market expectations that a reasonable person expects a material impact on the price or value of its securities.
A policy of not giving earnings guidance is acceptable, however, take care in communications not to provide de facto earnings guidance.
Publishing analyst forecasts or consensus estimates has a risk of being considered de facto earnings guidance if not done with care.
Analyst and investor briefings need to be cognisant of the risk of inadvertent or selective release of market-sensitive information.