Notice to all Listed Companies/Securities
Reminder: Timely Disclosure of Material Information
The Trinidad and Tobago Stock Exchange Limited (TTSE) wishes to advise all our Listed Companies that we remain steadfast in our obligation to perform as a Self-Regulatory Organisation within the Financial Services Community. We continue to actively monitor the developments and impact of the COVID-19 pandemic and its impact on the operations of our Listed Companies. In light of this, we have granted extensions on the deadline date for Financial Statement submissions for our Listed Companies who have been impacted by the current pandemic situation.
Notwithstanding the above measures, the TTSE is aware this COVID-19 pandemic may likely have on our Listed Companies’ operations, performance and future prospects. We continue to monitor how companies are reporting these effects and risks, and as such, we take this opportunity to remind you of your obligation for timely disclosure of material information relating to the changes in the business affairs of the Company as a result of the COVID-19 pandemic that may likely be considered important to a reasonable investor, in accordance with TTSE Rule 603 and TTSE Rules, Appendix XIII – Guidelines on Timely Disclosure of Information.
We are aware that this current situation presents unprecedented uncertainties and therefore, in some instances, advance notice may not be possible as material events unfold. Nevertheless, the effects COVID-19 has had on companies, what management expects its future impact will be, how management is responding to evolving events, and how it is planning for COVID-19-related uncertainties can be material to the investing public and voting decisions. As such, we advise that Listed Companies should provide as much information as is practicable regarding their current operating status and their future operating plans under the various conditions related to COVID-19.
For guidance, developments that should be disclosed are, but not limited to, the following:
- The impact on your financial position and statements should be made regarding the future prospects of the Company;
- Changes in future operating conditions including response strategies, remote working arrangements;
- Changes in corporate actions decisions including dividend payments as a result of COVID-19;
- Changes in strategic goals as a consequence of COVID-19;
- Changes in major acquisitions or dispositions as a result of COVID-19;
- Changes in your supply chain or the methods used to distribute your products or services, as a result of COVID-19;
- Changes in the development of new products and changes impacting the Company’s resources, technology, products or markets as a result of COVID-19;
- Risk related to COVID-19, for example cybersecurity risks and cyber incidents.
The TTSE strongly believes that the timely release of material information during this period is critical to maintaining confidence and integrity of the market and urge that all Listed Companies should take the necessary steps to ensure that they comply with the disclosure requirements set out in the TTSE Rules.
We thank you for your cooperation and look forward to continued work with you as we all navigate through this unusual period.
Amoy Van Lowe
Chief Executive Officer
May 6th, 2020