Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Boris Boyka wrote:xxxxx wrote:researchfirst wrote:Am I alone in being annoyed that profit warnings are coming out at the same time, or virtually the same time, as results in many cases?
Here's the rule:
THE CAPITAL MARKETS (SECURITIES) (PUBLIC OFFERS, LISTING AND DISCLOSURES)
REGULATIONS, 2002
G.05
(1) An issuer shall disclose all material information and make a public announcement of:
(f) any profit warning, where there is a material discrepancy between the projected earnings for the current financial year and the level of earnings in
the previous financial year.
(2) For the purposes of subparagraph (1)(f), the expression “material discrepancy” in relation to projected earnings fora financial year means that such earnings are at least 25% lower than the level of earnings in the previous financial year.
(3) Unless otherwise stated, all public announcements which an issuer is required to make under these Regulations shall be made within twenty four hours of the happening of the event.
Does anyone know how this is actually enforced?
Please read the rule carefully. Profit warnings are for financial years and not for interim periods. Stanchart's financial year is obviously December; So what they've done is actually excellent reporting and it exactly what the rules require/mean. Why r u annoyed????? Your name betrays you @XXXX . Did you care to confirm the date the comment you replied to was posted? By then it was in order. No one has lamented on SCBK warning timely. This is the beauty of wazua. All organizations are well represented 
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