ASX confirms we will be updating our approach to disclosure of waivers by listed entities to provide investors with greater transparency. ASX will now require a listed entity that is granted a waiver to disclose the nature and effect of the waiver, and the reasons for seeking it within one business day of it being granted. The disclosure can be made later than one business day if it relates to a confidential or incomplete proposal or negotation, and the timing will then be triggered by the matter no longer being confidential or incomplete.
This update is part of a commitment we made in April to look at possible updates to our Listing Rules that would allow greater recognition of investor interests. At that time several investors raised with ASX the question of whether we could require more timely disclosure by companies granted a waiver.
ASX Managing Director and CEO Helen Lofthouse said: “I’m pleased we’ve been able to make this update in a way that continues to offer confidentiality to companies negotiating a transaction while also giving investors further transparency.
The health and vibrancy of our public markets continues to be a key priority for ASX and today’s update is an initial step in a wider piece of work we are doing to review listing rules as they relate to shareholder approval requirements. We are continuing to conduct research and have been engaging stakeholders to help us refine the scope of a consultation paper we are planning to issue on this topic.”
Details of waivers granted by ASX are published as part of a register on the ASX website which is updated twice a month. This new change will now also require a company to disclose the nature and effect of the waiver and reasons for seeking it on the market announcements platform.
ASX already requires listed entities to disclose that they have received a waiver as a condition of some waivers, particularly where it will assist the market's understanding of how the company is complying with our rules. This update will standardise our approach and apply it to all waivers.
This change is supported by updates to Guidance Note 17 which will take effect from 11 August 2025. Full details are available in Listed@ASX Compliance Update 08/25 which is published on our website.
