Section 20
of Securities Markets Regulations, 2015
Section 20
(1)
Reporting entities are required to disseminate unpublished price sensitive information without delay as part of a continuous reporting obligation.
186
{2}
Reporting entities must ensure that any price sensitive information is disclosed to the market as a whole and must take all reasonable care to ensure that such information is sufficiently detailed, accurate and not misleading or deceptive.
(3)
The price sensitive information must be released by the reporting entities without delay by way of an announcement or such other manner as the
Authority may determine.
(4)
A short period before announcing price sensitive information is permitted where a reporting entity is affected by an unexpected event and the reporting entity needs to clarify the situation so that any information released is accurate and not misleading.
(5)
Where there is a danger of information leaking out in the meantime, the reporting entity must make a holding announcement, giving an outline of the subject matter of the announcement, the reasons why a full announcement cannot yet be made and undertaking to give a full announcement as soon as possible.
(6)
Price ~ensitive information that is already available to the market, such as interest rate changes, does not need to be announced unless it has an unexpected or unusual effect on the reporting entity.
(7)
The obligation of a reporting entity to announce price sensitive information is not discharged where a fee must be paid for access to the information or it is not a matter of general knowledge that the information can be obtained and in cases of doubt, a reporting entity must consult with the
Authority.
Types of price sensitive information.