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Singapore Exchange Limited (“SGX”) is introducing changes to a few SGXNET announcement templates to provide greater convenience for issuers, listed on SGX, making disclosures to update the market. The enhanced announcement templates are effective from 9 June 2008.
Ms Yeo Lian Sim, Senior Executive Vice President and Head of Risk Management and Regulation at SGX, said, “Issuers are making good progress in their disclosures to the market. The Exchange is enhancing its SGXNET announcement templates to assist issuers further in making complete and timely disclosure of material information. Shareholders can also more easily keep abreast of the developments in their listed companies.”
The enhanced SGXNET Announcement Templates are:-
- Announcement of Appointment
Following the revision to the Appointment template, listed companies will now have the opportunity to share with their investors the Board’s rationale and purpose in appointing new directors and key officers at the time of appointment. Board renewal, search process and relevance to business plans can also be included in the announcements. This is in addition to the information required under the Fifth Schedule, Securities and Futures (Offers of Investments)(Shares and Debentures) Regulations for appointments of new directors and key officers.
- Announcement of Cessation
The resignation template has been renamed “Announcement of Cessation” to clarify that the template is to be used for all cessations, not only resignations, of directors and key officers. The company can also take the opportunity to highlight any relevant matters to its shareholders.
- Daily Share Buy-back Notice
The revision provides for issuers to disclose the number of treasury shares held and number of shares cancelled when they announce any share buy-back, so that the disclosures are complete for the purpose of Appendices 8.3.1 and 8.3.2 of the Listing Manual.
- Notice of Books Closure Date
With the new template, issuers should find it more convenient to announce details of their books closure dates pursuant to Listing Rule 704(24). Singapore Exchange Limited pg 2 of 2 Company Registration No. 199904940D www.sgx.com
- Update of Financial Performance for the purpose of the Watch-List
For the purpose of the Watch-List, companies that have reported losses are required to provide information as required under Appendix 13.1 of the Listing Manual. This new template provides companies with an efficient means to update shareholders of their latest financial status.
