How far away from market consensus does trading have to be to warrant ad hoc announcement?
It would be difficult for us to answer this directly as our rules are not drafted in this language. We would, though, expect that when assessing disclosure of trading or financial performance, directors will apply the various legs of the definition of inside information; in particular, the likelihood of a significant effect on price should disclosure be required. We do recognise that in some sectors of the listed community, there are accepted market timings or cycles for the disclosure of trading performance. This should not, though, negate the importance of timeliness of disclosure where an issuer is in possession of inside information.
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- How far away from market consensus does trading have to be to warrant ad hoc announcement?