Module 16 2022

02/09/2022

Communication by Listed Companies

A listed company must ● Disclose “inside information” that concerns it as soon as possible ● Communicate in a way that avoids creation or continuance of false markets

Cannot mislead investors

Insider trading concerns where information is not disclosed

The Organisation for Professionals in Regulatory Affairs

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“Inside Information”

Inside information ● Is of a precise nature ● Is not generally available ● Relates directly or indirectly to an issuer or investment ● Is likely to have a significant effect on price – would a reasonable investor be likely to use the information as part of the basis of his investment decisions?

Safety and efficacy developments may be “inside information”

The Organisation for Professionals in Regulatory Affairs

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