RE: Positive news16 Nov 2024 18:32
Posted at 15/11/2024 15:38 by klosters65
Thanks to ML on TelegramRe; ASX listing & shareholder communication requirements. Empire as a publicly traded company listed on the AIM market would be required to inform shareholders if it applied for a dual listing on another exchange, such as the ASX (Australian Securities Exchange). This obligation arises from the regulatory requirements of AIM and broader principles of corporate governance & transparency.Process:1) AIM disclosure rules*AIM-listed companies are subject to the AIM Rules for Companies, which include a requirement to disclose information that could affect the company's share price or be of material importance to shareholders.*A dual listing may be considered price-sensitive information, as it could affect the Empires liquidity, share price, or strategic direction. Therefore, Empire would need to issue a Regulatory News Service (RNS) announcement to inform shareholders.2) Material Change or Decision*Applying for a dual listing often reflects a significant strategic decision, as it can involve additional compliance requirements, costs, and potentially new opportunities for raising capital. Shareholders have a right to be informed about such significant changes.3) Shareholder Approvals *Depending on Empires Articles of Association or specific corporate governance policies, a dual listing might require shareholder approval at a general meeting, especially if it involves issuing new shares.4) Continuous disclosure obligations on ASX*If the application for dual listing proceeds, Empire will also become subject to the ASX's continuous disclosure obligations, which require prompt announcements of material information. This dual obligation reinforces the need for transparency from the outset.Communication Process* Empire typically communicates such decisions through:1) An RNS announcement 2) Updates at shareholder meetings or annual general meetings (AGMs).3) Details in prospectuses or explanatory materials related to the ASX listing.By keeping Empire shareholders informed, they can ensure compliance with AIM regulations & maintain investor confidence.ADVDN query for those interested. Enjoy your weekendsML