The Securities and Exchange Commission (SEC) has advised all public companies to continue to make material disclosures to investors on the impact of COVID-19 Pandemic on their business operations.
They should also continue to disclose the trend and outlook for the company, and updates on implementation of business continuity plans.
Public companies are to publish these disclosures on their websites and on other relevant media. Public companies who plan to conduct AGMs are required to ensure that the conduct of the meetings comply with the provisions of the Companies and Allied Matters Act, the Investments and Securities Act, the SEC Rules and Regulations, relevant government and health circulars and guidelines issued in this regard.
Debt Issuers are also expected to continue to engage Trustees to ensure that relevant disclosures are provided. Trustees are required to provide updates to the Commission accordingly.
