Continuing Listing Requirements

Companies that obtain a listing are required to comply with the provisions of the Companies Act and with the Listing Rules of the CMDA.

Disclosure

Immediate announcements must be made to the MSE of information that may have a material effect on the price of the listed security.

Examples of such information would include:

a) A decision to either declare or to not declare a dividend.

b) Any decision to change the capital structure of the company, including decisions regarding Rights and Bonus issues.

c) Changes to the Board of Directors, Company Secretary, Registrars or Auditors of the company.

Submission of Annual Report and Audited Accounts

Listed companies are required to adhere to the Companies Act requirements pertaining to Annual Reports. However, the Listing Rules of the MSE require the Annual Report to make available some additional information. The Annual Report must be circulated to shareholders within 6 months of the end of the financial year.

Companies listed on a Second Board are required to circulate the Annual Report to shareholders within 7 months of the end of the financial year.

Trading of Shares

Once a company is listed, it is mandatory that trading of its shares take place through the Stock Market.

Additional Listing

If a company has listed a particular class of security, any further issue of securities of the same class is only permitted after the company submits an additional listing application and such application has been approved by the CMDA.