rule 3.1 (PDF 127KB)
Listing rule 8.14 (PDF 98KB)
Guidance note 28 (PDF 54KB)
Consultation paper (PDF 174KB)
24 January 2011
Update no 01/11
Important information for ASX Listed Entities
1. Flooding in Queensland and other states: periodic financial reporting
Listed entities (other than mining exploration entities) will be aware that
4D half-yearly reports (for 30 June balancers) or preliminary final reports
(for 31 December balancers) for the period ended 31 December 2010 are due to be
lodged with ASX by 28 February 2011. (Mining exploration entities are not
required to lodge preliminary final reports, and their half-yearly reports are
due 75 days after the end of the half-year - i.e. by 16 March 2011.)
ASX understands that there may be some listed entities who have been
significantly affected by the recent flooding in Queensland and other States and
who are likely to encounter difficulties in finalising their financial reports
in time to meet their lodgement deadlines. In the case of half yearly reports,
which must include the audit review report, this may be because the entity's
auditors are not able to complete the audit review in time. (Preliminary final
reports can be lodged before the audit report has been completed.)
Listed entities in this position are requested to contact their Listings Adviser
as soon as possible to alert ASX to their position.
ASX will consider on a case by case basis any request for an extension of the
due date for lodgement of periodic financial reports by any entity so affected.
It should be noted that any such extension will be for the shortest period that
a listed entity reasonably needs to complete and lodge its periodic reports.
In this regard, it is unlikely that ASX will agree to an extension of more than
1 month. Any such extension will also be subject to the entity providing
to the market, on or before the due date for lodgement of its periodic reports,
information which is as complete as is possible in the circumstances about its
financial position and its financial results for the relevant period.
All listed entities are reminded of their obligations under
listing rule 3.1
(PDF 127KB) to announce immediately any information of which they become aware
that a reasonable person would expect to have a material effect on the price or
value of their securities. This includes any significant impact on their
operations or results arising from the recent floods. It also includes any
expected material change to their forecast results or any material change from
the results for the previous corresponding period, or from consensus forecasts.
This disclosure must be made immediately even if the entity is not able to
quantify precisely the expected difference in the results. In making such
disclosure, the entity must provide some details, however qualified, of the
extent of the variation. For example a statement by an entity may indicate that
based on internal management accounts, its expected net profit or EBIT will be
an approximate amount (e.g. approximately $10m) or alternatively within a stated
range (e.g. between $9m to $11m). Alternatively, the entity may indicate an
approximate percentage movement (e.g. "up [or down] by 25% on the previous
corresponding period"). ASX accepts that this information may not be precise
and may be changed or amended on completion of the final accounts.
2. Amendment to listing rule 8.14
On 24 January 2011, an amendment to
listing rule 8.14
comes into effect that permits listed entities and their registries to charge a
reasonable fee for registering paper-based off-market transfers. Listed
entities must notify ASX Listings of the amounts which it proposes to charge,
and sufficient evidence to enable ASX Listings to determine if the fee proposed
is reasonable, before it may start charging the fee.
Guidance note 28 "Transfers and Registration: Fees
for registering Paper-based Transfers in Registrable Form" has been
issued to accompany the amended rule.
The proposal to amend
listing rule 8.14 was first
exposed for public comment in the 2007 Omnibus Listing Rule Amendments Exposure
Draft released on 20 June 2007.
3. Consultation paper for listing rule amendments: accelerated rights issues
ASX has released a consultation paper and exposure draft which sets out
amendments ASX proposes to make to its Listing Rules to facilitate common forms
of renounceable and non-renounceable capital raisings without the need for
listing rule waivers. These types of capital raisings are commonly referred to
as "accelerated rights issues" (or "Jumbo", "Rapid", or "Sareo").
Comments are requested by Friday 25 February 2011. The consultation paper can
be accessed from the ASX Group website (PDF 174KB).