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.