ON-GOING LISTING REQUIREMENTS : : 

Disclosure / Accountability
A publicly listed company is legally required to meet on-going disclosure requirements about the company and its operations. When your company lists on the stock exchange, it must meet the continuing disclosure requirements outlined in the stock exchange’s listing rules. In essence, these requirements mean a company must keep shareholders informed of material events affecting the company’s business operations, financial condition and management that are likely to have an effect on the value of the company’s shares. There is, however, no requirement to disclose proprietary information.

Company directors assume additional responsibilities and are accountable to all the shareholders of the company to act in their best interests at all times. For example, all transactions between the founders (“controlling shareholders”) and the company must be on an arm’s length basis. “Insiders” of the company (e.g. directors and employees) must be careful not to use their positions to trade in the company’s shares to the detriment of other shareholders or potential investors.

Other Requirements
To maintain the listing on the SPSE, your company must continue to meet the following requirements. These are outlined in detail in the SPSE Listing Rules:

• The company must keep shareholders informed about the company’s business operations, financial condition and management by making public announcements through the SPSE.
• The SPSE must be informed of all material changes to the company for example disposal of assets.
• Any intentions to the payment or non-payment of dividends must be announced to the market. When a dividend is declared, a statement showing comparative figures for turnover, gross profit and net profit after tax must accompany the market announcement.
• The company must make available to shareholders, and to the SPSE, half-yearly financial statements set out in a form prescribed by the SPSE.
• The company must prepare and circulate its audited financial statements within four months after the close of its financial year.
• In addition, there are specific requirements pertaining to new issues and calls and takeovers.