New Zealand Exchange Limited (NZX) proposes to amend both the NZSX/NZDX and NZAX Listing Rules to ensure issuers are able to take full advantage of recent amendments to the Companies Act 1993, relating to annual report communications with shareholders.
The amendments to the Act will enable companies to deliver annual reports to shareholders by way of a shorter form notice, that meets the requirements of s209(3), rather than a large report.
This amendment will lower the compliance costs associated with the dissemination of a company's annual report and give shareholders a concise summary of the complex information contained within an annual report.
NZX Listing Rules will be amended to allow annual reports to be sent out in line with the amended s209 of the Companies Act.
NZX has consulted with the Listed Companies Association Executive in relation to the changes, and they are supportive of them. NZX will accept submissions on the drafting of this proposed rule change for a period of two weeks, with the period for submissions closing on 5 May 2007.
Submissions should be made in writing to:
Elaine Campbell
Head of Market Services
elaine.campbell@nzx.com
