Whoops, posted this msg in stock forum. General forum is more appropriate:
hhttp://www.asx.com.au/ListingRules/chapters/ch03.pdf
I'm interested in posters' observations on how companies interpret the ASX Continuous Disclosure Rule 3.1 in practice.
If a sale contract is signed, do companies routinely delay the announcement to suit their share price requirements (e.g. keeping lid on SP until options with performance targets are issued to directors) and justify this on commercial confidentiality grounds?
Surely, announcements should be made immediately a significant sale contract (>5% consolidated assets) is signed. At the very least, this can be in general terms without necessarily divulging detailed revenue. Are AGM's appropriate occasions to announce previous sale contracts? Is it reasonable for shareholders to expect this from an AGM?
What is a reasonable time delay for an ASX announcement after a significant transaction?
Cheers,
Gary
continuous disclosure rule
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