NZX proposes to provide further guidance to issuers
about correcting consensus guidance or forecasts published by
analysts and other third parties.
NZX has today released a consultation paper requesting feedback
on the proposed amendments to its existing continuous disclosure
guidance note.
Submissions close on 9 December 2016.
The
consultation is welcome as it should provide useful guidance to
issuers and more closely align the ASX and NZX continuous
disclosure guidance.
Proposed new guidance
The proposed new guidance outlines when an issuer needs to make
disclosure because its actual financial performance will or is
likely to deviate from market expectations.
Importantly, NZX notes in its proposed guidance that it does not
consider that issuers have a general obligation to correct third
party earnings forecasts or consensus estimates that do not align
with the issuer's internal projections or to publish those
internal projections solely because they
