RSEBL notifies listedcompanies to be moretransparent.
The Royal Securities Exchange of Bhutan Limited(RSEBL) would strictly monitor compliance todisclosure of information by listed companies.As mandated by section 5.23 of the listing rule,RSEBL notified on Thursday through its Facebookpage that it would strictly monitor the complianceto disclosure of information and non-compliancewould lead to penalty or even suspension of tradingof securities in the secondary market.This notification comes in the wake of untimelysubmission of information to RSEBL bythe listed companies, with most producinginformation only on RSEBL's repeated follow- up.
'Please be remindedthat RSEB is accountableto provide effective andefficient information on thematters concerning the listedcompanies to safeguard the interest of the market andinvestors. Not disclosing suchinformation to investor notonly hampers the image butalso the sole responsibilityof RSEB,' states RSEB in itsFacebook post.RSEB has asked all thelisted companies to discloseinformation, which mightreasonably affect the marketactivity and the prices ofthe securities traded on theStock Exchange.RSEBL maintained thatthis requirement is also asper Section 5.13 VX (a) ofthe Rules Governing theOfficial Listing of Securities.Further, the RSEB hasalso notified the listedcompanies about Section5.13 VX (b).
The RSEB has alsonotified the companies tocomply with other relevantdisclosure norms in thelisting rule.
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|Publication:||Business Bhutan (Thimphu, Bhutan)|
|Date:||Mar 2, 2019|
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