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Rule: Immediate Disclosure
A listed company is required to disclose material information
concerning its business and affairs forthwith upon the information
becoming known to management, or in the case of
information previously known, forthwith upon it becoming
apparent that the information is material. Immediate release
of information is necessary to ensure that it is promptly available
to all investors and to reduce the risk of persons with
access to the information acting upon undisclosed information.
Unusual trading marked by significant changes in the price
or trading volumes of any of a company’s securities prior to the
announcement of material information is embarrassing to
company management and damaging to the reputation of the
securities market, since the investing public may assume that
certain persons benefited from access to material information
which was not generally disclosed.