LARGE-SIZED PUBLIC COMPANIES MUST DISCLOSE INFORMATION WITHIN 24 HOURS IN 3 CASES
The Circular No. 96/2020/TT-BTC guiding the disclosure of information on the securities market is issued by the Ministry of Finance on November 16, 2020.
Accordingly, a public company must disclose information within 24 hours after receiving a request of the State Securities Commission or Stock Exchange where it is listed or registered for trading upon the occurrence of any of the following events: An event that seriously affects lawful interests of investors; There is information relating to the company which greatly affects the securities price and needs confirmation.
Concurrently, an organization listing stocks or large-sized public company shall conduct an extraordinary disclosure of information within 24 hours after the occurrence of any of the following events:
Firstly, there is a decision to increase or reduce the charter capital.
Secondly, there is a decision on contribution of investment capital to an organization or a project, borrowing or lending or another transaction valued at 10% or more of total assets of the company as stated in the latest audited annual financial statement or latest examined biannual financial statement (based on the consolidated financial statement if the public company is concurrently the parent company);
Thirdly, there is a decision on contribution of capital valued at 50% or more of the charter capital of an organization (determined according to the charter capital of the contribution-receiving organization before the time of contribution).
This Circular takes effect on January 01, 2021.
