Immediate disclosure of material information
9.4
Is a listed corporation required to make immediate disclosure of a notice issued pursuant to section 218 of the Companies Act, 1965 (“S. 218 Notice”)?
There is usually no requirement for an immediate announcement to be made by a listed corporation of a S.218 Notice as this is merely a letter of demand. However, where a S. 218 Notice is considered to be material pursuant to Rule 9.03 of the ACE LR based on the facts and circumstances of a particular listed corporation, the listed corporation must make an immediate announcement of the same.