ASX update

In early 2015, the Australian Securities Exchange (ASX) issued a consultation paper outlining their proposed changes to Guidance Note 8 Continuous Disclosure Listing Rules 3.1-31B.

The Australian Institute of Company Directors lodged a submission in response to the consultation paper which can be read here.

After issuing a subsequent “consultation response” document in June they have now published the final form of this amendment. One of the key changes from the consultation paper draft was the removal of the proposal for any new presentation provided to an analyst or investor to be published on the ASX Markets Announcement Platform.

Companies that were initially concerned about the duplication of lodging various presentations produced for different audience segments with effectively the same information have generally welcomed this clarification in the notes.

The amendment expands guidance on earnings surprises, publication of analyst forecasts and consensus estimates, and investor briefings.

A PDF of the final Guidance Note 8 can be downloaded here.