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ARTICLE · 16 MAY 2020

Are listed entities expected to predict the unpredictable? Continuous disclosure obligations during COVID-19

Cooper Grace Ward
Cooper Grace Ward
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This ASX update assists listed entities to navigate challenges posed by the pandemic, including continuous disclosure.

AustraliaFinance and Banking
Hana Williams
Hana Williams
Charles Sweeney
Charles Sweeney
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With the consequences of COVID-19 becoming increasingly pronounced, listed entities need to ensure they manage disclosure obligations by alerting the ASX of material information arising from the pandemic.

Continuous disclosure

ASX Listing Rule 3.1 provides that once a listed entity is, or becomes, aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity's securities, the entity must immediately notify the ASX.

A reasonable person is considered to expect information to have a material effect on the entity's securities if the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the securities.

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