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Companies Update 03/06

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Companies Update
30 October 2006
Update no 08/06

Important information for ASX Listed Entities

Company Announcements Office - Hours of operation
Listed entities are referred to Companies Update No. 03/06 released on 27 March 2006 which advised of a trial period during which the Company Announcements Office would close at 7.30 pm EST, instead of 8.30 pm EST. The trial period was scheduled to end on Friday 27 October 2006, prior to the resumption of Daylight Saving in the Eastern states

ASX confirms that this trial period has ended as scheduled, and advise that as from Monday 30 October 2006, the Company Announcements Office will close at 8.30 pm AEDT.

If Western Australia proceeds with the proposal to adopt Daylight Saving starting in December, ASX will review moving Companies Announcements Office's closing time back to 7.30 pm AEDT.

Please note that any change in the Company Announcement Office's operational hours does not affect a listed entity's ability to lodge announcements either electronically or by fax at any time over a 24-hour period.

Processing of Company Announcements during peak periods. 

Listed entities are advised that they should consider the timing of lodging announcements with ASX surrounding peak periods throughout the trading day, such as prior to Market Open and Market Close. During these periods, the number of announcements handled by the Company Announcements Office increases, and therefore the time taken in processing the announcements is lengthier than may be the case during the rest of the day.

During these peak periods, in order to for an announcement to be processed prior to the required release time, listed entities should have regard to the following guidelines:

  • For an announcement that must be released prior to Market Open at 10:00am AEDT, the announcement should be submitted prior to 9:30am AEDT. 
  • For an announcement that must be released prior to Market Close at 4:00pm AEDT, the announcement should be submitted prior to 3:40pm AEDT. 

In addition, the nature of the announcement should also be considered as a factor that may affect how quickly the announcement can be released. More complex announcements may require further review by an Issuers Adviser prior to release to the market.

For more complex announcements of a critical nature, listed entities are advised to contact Company Announcements Office in advance if there are concerns with meeting the above guidelines.

Non-business and non-trading days in 2007
ASX has declared the non-business and non-trading days for 2007. 

'Business day' is defined in listing rule 19.12 as:
Monday to Friday inclusive, except New Year's Day, Good Friday, Easter Monday, Christmas Day, Boxing Day, and any other day that ASX declares is not a business day.

The ASX Market Rules define 'trading day' as:
a day determined by ASX to be a Trading Day and notified to Market Participants.

The Trading Calendar for the 2007 calendar year identifying public holidays, both national and state, is now available on asx.com.au.  It indicates whether they are non-business days (no ASTC settlement) and/or non-trading days (equities market closed). Any weekday not included in the attached calendar is a 'business day' and 'trading day' as defined.

ASX reserves the right to declare other days as non-business days and non-trading days.

All home branches for listed entities and the Company Announcements Office will be open for business on all trading days, even though that day may be a non-business day or a public holiday in the State of that home branch.

The time limits set out in the timetables contained in the Appendices to the Listing Rules are by reference to business days. Listed entities are reminded that if they are preparing a timetable for an issue or offer to existing security holders, a dividend, a call, a capital reorganisation, or any similar corporate action, the draft timetable may be lodged with ASX on a confidential basis for discussion with their Issuers Adviser.

To help keep our Listed Entities informed of information and events ASX will be sending emails to the Company Secretary's Office from time to time. You are receiving this email because you have been identified as a key contact within the Company Secretary's Office at your organisation. If you would like to update your email address please do so via the Directors/Senior Management page on ASX Online for Companies. Feel free to forward this email to any relevant parties within your organisation.