CmaBoardReleases
Title: "Timing of Disclosure of Material Information"
Capital Markets Authority is keen to enhance the compliance of the issuers of securities listed on Kuwait Stock Exchange (KSE) to minimize any violations of the law in connection with disclosures of material information.
Therefore, the Authority draws the attention that issuers shall diligently disclose material information once the information is available during the working hours of the Authority or KSE or prior to the next trading session if the information is available beyond working hours. Additionally, the Authority reminds of the requirement for complying with regulations on disclosure of material information it issued, which determines mechanisms and timings of disclosure upon listing on foreign markets as well as upon occurrence of sudden and unforeseen events that require delay of disclosure for a short period.
Furthermore, the Authority draws the attention of issuers, if they believe that there are justifications requiring postponement of disclosure of material information, that such postponement shall not involve potential misleading of the interested public and stakeholders. Request for postponement should be filed with the Disclosure Department including the reasons for postponement and all notes relevant to the information. The Authority may approve the request of postponement or oblige the issuer to disclose the information, if it deems necessary.