, Singapore

SGX RegCo grants extensions to release full year unaudited results

The revised circuit breaker period will affect issuers whose full-year ended before it.

Singapore Exchange Regulation (SGX RegCo), in consultation with the Monetary Authority of Singapore (MAS), will grant an automatic two-month extension to issuers with financial year ends (FY-end) of 29 February or 31 March and a one-month extension to issuers with a 30 April FY-end to release their full year unaudited results, an announcement revealed.

Issuers with 29 February, 31 March and 30 April 2020 FY-ends are now required to release their results on 29 June, 30 July, and 29 July, respectively.

Following the revised circuit breaker period, SGX RegCo said that this has a bearing on issuers whose full-year ended just before the start of or during the said period since the reporting timeline for them falls within or shortly after it.

Issuers will need to notify SGX RegCo and announce via SGXNet their relevant FY-end and the indicative timeline to release their full-year unaudited financial statements; the Board of Directors’ confirmation that the time extension will not violate any laws and regulations governing the issuer and its constitution; and ensuring adherence to the issuer’s internal policies with regards to dealing by the issuer and its officers in its securities, including not dealing in the issuer’s securities while in possession of any material information.

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