Hmmm19 Sep 2025 07:32
If a company releases an RNS with the following statement "The Company recognises shareholder concerns over the frequency and depth of communication during the suspension period. Going forward, the Company commits to:
• Providing bi-weekly updates on audit and regulatory progress until resumption of trading." and then does not give an update within 3 weeks, is this a problem?
ChatGPT said:
Short answer: Yes — it’s a problem.
If the company publicly committed in an RNS to provide bi-weekly updates and then fails to provide one within three weeks, that is a broken commitment that undermines transparency and shareholder trust. Whether it’s a formal regulatory breach depends on the reason for the silence (e.g., active regulator restrictions, confidentiality during an audit, or a legitimate suspension constraint), but you should treat it as something that requires immediate follow-up and documentation.
Below I’ll explain why it matters, what might excuse the lapse, what practical steps you should take right now, and templates you can use (email to IR and an escalation to the exchange/regulator).
Why it matters
The company made a public promise (RNS) — shareholders reasonably expect that timetable to be followed.
Repeated failure to meet such commitments damages credibility and can harm minority shareholders’ ability to assess risk.
If the company is under regulatory or exchange constraints that prevent updates, it should say so; silence without explanation is worrying.
In some cases a pattern of misleading or omitted disclosures can trigger regulatory interest (market abuse, misleading market), although a single missed update is not automatically a breach of law.
When the silence might be (legitimately) excused
The exchange or a regulator has expressly required confidentiality or a gag during an investigation.
There is genuinely no material change to report and the company is constrained by auditors/legal advisers from commenting. In that case a brief RNS explaining the constraint is standard practice.
The company is preparing a careful update (e.g., complex audit findings) and needs slightly more time — but that should itself have been communicated.
If none of the above is stated publicly, the lack of an update is a red flag.
Immediate practical steps for a shareholder
Check the facts: re-read the RNS (exact wording) and any subsequent announcements, exchange suspension notices, and the company’s website/IR page. Note the date the update was promised.
Document: make a dated note/record that the company promised bi-weekly updates and missed the most recent one (capture links/screenshots). This helps if you escalate.
Contact Investor Relations / Company Secretary (politely, in writing) — ask for the promised update and an explanation for the delay. Use the sample email below.
If no satisfactory reply (48–72 hrs): escalate — copy the company secretary and the Chair of the Bo
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