IR – First Advisers

29 July 2024

ASX Compliance – Avoiding the Tendentious and Intemperate

Giles Rafferty
ASX Listing, compliance, Disclosure, IR

GILES RAFFERTY, Corporate Communications and Media Advisor

The ASX has issued a reminder to listed companies to make sure to highlight the presence of new market sensitive information in investor presentations. At a minimum a company should call out the presence of this information in the header of the presentation or, better still, issue a standalone ASX release.

The market watchdog also used the 25 July 2024 compliance update to remind companies it takes a dim view of media releases that are “really promotional, political or tendentious in nature” being posted on the ASX market announcements platform. The ASX also restated that the content of a market release should be factual, relevant and expressed in a clear and objective manner and warned against “emotive, intemperate or defamatory language” and the use of woolly expressions such as “double digit”, which do not allow investors to assess the value of information.

Enforcement Action

If ASX believes an announcement falls short of its requirements it may take action including:

- rejecting the announcement,
- requiring a retraction or correction, and
- suspend trading in the entity’s securities until corrective action is taken by the entity.

Listing Rule 17.3.2 provides that ASX may at any time suspend an entity’s securities to prevent a disorderly or uninformed market. Two specific situations were cited where it will use this power.

Suspension of trading

ASX may choose to suspend trading in a Company’s securities when an entity has requested a trading halt but has nothing material to announce.

If an entity is granted a trading halt pending the release of an announcement, the expectation is the announcement will contain market sensitive information.

Should it be the case that:

- an announcement provided to lift the trading halt is plainly not market sensitive; or
- a company enters a trading halt without anything market sensitive to announce; or
- an announcement suitable for release is not provided in time to lift the trading halt,

the ASX’s usual approach will be to suspend quotation of an entity’s securities to prevent a disorderly or uninformed market on the basis that the market was expecting a market sensitive announcement.

Trading in an entity’s securities will not usually resume until an appropriate announcement, including a short account of why there was an absence of market sensitive news, has been released, unless there is some other reason for the suspension to remain in place.

Price query letter

A price query letter is generally issued by ASX when it detects abnormal trading and a listed entity responds that it is not aware of any information, which has not already been announced to the market, which could explain the abnormal trading.

Usually, a company has two hours to respond to a price query letter in order to prevent a disorderly or uninformed market from emerging. In the absence of a timely and or adequate response to a price query ASX’s approach is to suspend quotation of the entity’s securities.

Trading in the entity’s securities will typically resume once the price query letter and an adequate response have been published on the market announcements platform, unless there is some other reason for the entity’s securities to remain suspended.

Mining Company Disclosures

ASX has given mining companies advance warning that it intends to scrutinise their presentation materials this year. Examples of where they will be focusing their attention include:

- new or materially changed information should have already been released in a stand-alone announcement before appearing in a presentation
- any estimates or targets must be accompanied by cautionary statements and should be on the same page and in the same paragraph….. They should also be given equal prominence, which means being in the same font type, size and colour as the relevant information.
- Where a listed entity discloses an objectionable peer comparison ASX may require the entity to publish an announcement withdrawing or retracting the objectionable material.
- Mining entities must not disclose market sensitive information on social media platforms prior to disclosing that information through the market announcements platform. ASX has recently caused entities to remove inappropriate visual results, in-ground values and peer comparisons from social media platforms.

The 25 July 2024 ASX compliance update can be downloaded by clicking here.

3 June 2024

Investor Targeting and RORI Analysis

SALONI SURI
AccessIR, All, Investor Targeting, IR, IR. Analytics

SALONI SURI, Shareholder Analytics and Investor Relations An important task within a company’s Investor Relations function is identifying new investors who could become potential shareholders. An analysis of a company’s share register will give an Investor Relations Officer, (IRO), a good snapshot of who their current shareholders are at a single point in time but […]

Companies trending to earlier results reporting

Neel Porwal
All, IR, Reporting

NEEL PORWAL, Shareholder Analytics In the evolving landscape of financial reporting, understanding when companies disclose their financial performance can be helpful. We have been monitoring trends in the reporting practices of ASX 300 companies since 2016 to uncover any patterns that might provide relevant insights for investors, analysts, and industry watchers alike. In this review […]

PERCEPTION STUDIES SUPERCHARGE INVESTOR RELATIONS

Ben Rebbeck
All, Best Practice, IR, Perception Study, Shareholder Engagement

BEN REBBECK, Executive Director IR teams put a lot of work into communicating their company’s investment case, so it is important to assess if this investment case is being understood and valued by investors. One of the best ways to do this is through third-party perception research. Showing that a company’s investment case is being […]

Approach to Guidance in 2023 and Same Day reporting

Victoria Geddes
All, Guidance, IR, Reporting, Same Day Reporting

VICTORIA GEDDES, Executive Director Over the past four months we have monitored companies in the ASX 300 Index reporting their full year results. Around 70% of companies in the S&P/ASX 300 index released their results for FY23 during August 2023. Companies return to providing guidance The majority of companies (81%) reporting their full year results this year […]

The emergence of AI in Investor Relations

Ben Rebbeck
All, Disclosure, Governance, IR

BEN REBBECK, Executive Director The use of artificial intelligence (AI) technologies in Investor Relations has the potential to revolutionise communication with institutional and retail investors, by streamlining processes, enhancing decision-making capabilities, and ultimately optimising Investor Relations (IR) outcomes. However, before considering the impact of AI on IR, it is crucial to reflect on the role […]

Using ASX Guidance Note 8 to Manage Earnings Surprises

ROWAN CLARKE
ASX Listing, Disclosure, Guidance, IR, Reporting

ROWAN CLARKE, Investor Relations Companies with a June year-end are entering a busy time, as they prepare to report their full year earnings. In parallel, the market is constantly forming a view of what those earnings will be. Consequently, there may be a need for a company to take action if the market’s expectations of […]

Financial Reporting post COVID

Adityan Anil
All, Best Practice, IR, Reporting

ADITYAN ANIL, Shareholder Analytics A key event in any company’s IR Calendar is the reporting of their financial results. This occurs twice a year and requires all ASX listed companies to publish financial results that cover a six- and twelve-month timeframe. The ASX Listing Rules give companies discretion on when they choose to publish their […]

ASX bares teeth on timing of Periodic Reports

Ron Cameron
All, ASX Listing, compliance, Disclosure, IR

RON CAMERON, Investor Relations During November, the ASX released a compliance update that contained information on a strict new enforcement regime around the timing of periodic reports. Get it wrong and a listed company faces automatic suspension. The update also called out inappropriate use of the Markets Announcement Platform and how that may lead to […]

Evaluating Your IR Program

ROWAN CLARKE
Best Practice, Investor Targeting, IR, NIRI, Perception Study

ROWAN CLARKE, Investor Relations As we enter a new financial year, it is worth reflecting on the effectiveness of your Company’s IR program. This was a topic at the 2022 National Investor Relations Institute’s (NIRI) Conference held in Boston. FIRST Advisers attended the conference in June and we summarise some of the key recommendations. Recommendation […]

Mastering Virtual Investor Days – Part 2

Victoria Geddes
All, Best Practice, Investor Days, IR

VICTORIA GEDDES, Executive Director and GILES RAFFERTY, Senior Adviser Corporate Communication Following on from part 1, published in our March 2022 Newsletter, this second part of our overview of Virtual Investor Days looks at the complexities and advantages of managing online events and online presentation skills. Managing Digital Logistics For any Investor Day there are […]

Mastering Virtual Investor Days – Part 1

Victoria Geddes
All, Best Practice, Investor Days, IR

VICTORIA GEDDES, Executive Director In our popular two-part blog on The Do’s and Don’ts of Investor Days, we were working on the not unreasonable assumption that they would be in person events. Over the past two years Covid has ruled out face to face meetings, let alone organizing large events such as AGMs and Investor […]

STOCK BORROWING AND LENDING 101

CHRIS HUGHES
All, Analytics, Investor Tracking, IR, IR. Analytics, shareholder

CHRIS HUGHES, Shareholder Analyst The borrowing and lending of shares dates back to the earliest days of stock trading. Put simply, it involves the owner of shares ‘lending’ them to another investor or institution who ‘borrows’ them for a given length of time. Borrowing and lending deals are often transacted by market makers or dealers, […]

Same-Day Reporting in 2021

ROWAN CLARKE
All, Annual Report, IR, Reporting

ROWAN CLARKE, Investor Relations For a number of years, FIRST Advisers has been monitoring same day reporting in Australia. We define same day reporting to be when a company releases their Annual Report on the same day that they release their Full Year Financial Results. The practice of providing the Annual Report on the same […]

FIRST Edition in 2021

Giles Rafferty
AGM, AIRA, All, COVID-19, IPO, IR, Perception Study

GILES RAFFERTY, Corporate Communication and Media Adviser. 2021 is drawing to a close with a sense of COVID-19 déjà vu. In late 2020 a new COVID variant, labelled Delta, was first identified in India. The Delta variant is characterised by mutations to the ‘spike protein’ which make it highly transmissible. The Delta variant is thought […]

PERCEPTION STUDIES TO SUPERCHARGE INVESTOR RELATIONS

Ben Rebbeck
All, Best Practice, IR, Perception Study, Shareholder Engagement

BEN REBBECK, Founding Director Why you need to understand perceptions of your company The substantial resources, including staffing, technology, printing, advisers and senior management time that most companies devote to investor relations are unfortunately not unlimited. It’s therefore crucial that these scarce resources are utilised as efficiently as possible with the best IR outcomes for […]

Virtual AGMs

Giles Rafferty
AGM, All, COBID-19, compliance, Governance, Investor Days, IR, video

GILES RAFFERTY, Corporate Communication and Media Advisor Talking the talk at virtual AGMs As AGM season looms large, the Australian Federal Government has given clarity around what will be required to hold a virtual Annual General Meeting during the latter part of 2021. A key change, compared to the COVID-19 inspired temporary arrangements introduced in 2020, […]

Nailing Your Virtual Events

ROWAN CLARKE
AGM, All, COVID-19, Governance, Investor Days, IR, video

ROWAN CLARKE, Investor Relations With most of Australia being plunged back into lockdown, and the August reporting season about to merge into roadshow season, there is no getting away from the fact that virtual briefings and meetings are still the only way to connect with shareholders and investors. So in this blog we explore the […]

The IPO Market in 2021

ROWAN CLARKE
All, Capital Raising, IPO, IR, Registries

ROWAN CLARKE, Investor Relations The IPO market in 2020 sprang into life in October, having retreated into hibernation with the advent of COVID. The rush to list turned into a stampede as the year drew to a close with December registering a record listing in one month of 29 companies. This included large and high […]

All you need to know about Short Selling

SALONI SURI
All, Analytics, Investor Tracking, IR, Short Attacks

SALONI SURI, Investor Relations Executive. Overview Short selling is a simple concept—an investor borrows a stock, sells the stock, and then buys the stock back to return it to the lender. In the period between selling borrowed stock and buying it back the investor is said to be ‘Short’ of stock, hence the term short […]

Who’s really on your register?

ROWAN CLARKE
All, Analytics, Investor Tracking, IR

IDENTIFYING THE BENEFICIAL OWNERS OF SHARES ROWAN CLARKE, INVESTOR RELATIONS The ability to interrogate a company’s share register to identify its beneficial owners provides important information to Directors. In addition to identifying who is making decisions to buy and sell shares, it enables the Board and senior management to identify such things as where […]

The IPO Market in 2020 – the Final Scorecard

Victoria Geddes
All, Capital Raising, IPO, IR, Registries

VICTORIA GEDDES, Founding Director In September 2020 the door to the IPO market flew open and dozens of companies poured through in a rush to list before the Christmas/New Year shut down. Memories were still fresh from late 2019 when a promising IPO market was stopped dead in tracks in October as several high profile […]

ESG Reporting among the ASX300

Daniel Jones
All, ESG, IR, Reporting

DAN JONES, Manager Shareholder Analytics As institutional investors increasingly demand more accountability for Environmental, Social and Governance (ESG) performance, companies face pressure to improve their standards of ESG reporting. However, unlike financial data, ESG information has no legislated or regulatory reporting guidelines or formats so the mechanism for delivery and any adoption of a reporting […]

TOP TEN TIPS FOR IPO COMPANIES

Victoria Geddes
All, ASX Listing, Disclosure, Guidance, IPO, IR, IR website, Shareholder Engagement

VICTORIA GEDDES, Executive Director. As the market braces for an avalanche of IPOs to hit the market in the December quarter, it is time to review our playbook for IPO investor relations, to highlight just what it takes to maximise the chances of a successful life after listing. Here are our top 10 Investor Relations tips […]

ASX tightens listing rules

Giles Rafferty
AGM, All, ASX Listing, Disclosure, IR, Voting

GILES RAFFERTY, Corporate Communications and Media Advisor “It’s important that ASX keeps evolving the listing rules so they remain contemporary, address emerging compliance issues, and continue to serve the interests of issuers, investors, and the Australian economy.” Kevin Lewis, ASX Chief Compliance Officer. A range of changes to the ASX listing rules will come into […]

Is 2019 ‘The Year of the ESG Fund’?

Ben Rebbeck
All, ESG, IR, Reporting

BEN REBBECK, Executive Director The ascendency of ESG matters within Fund managers, Board rooms and with IROs has unquestionably been rising rapidly in recent years. In this context, a question we often address from Directors and IRO is: Are ESG funds just another short term market trend, like ‘Hedge Funds’ were some 5 to 10 years […]

The importance of good design

Giles Rafferty
All, Annual Report, Corp Comms, IR

GOOD DESIGN is the difference between telling someone and showing them. It can be the difference between informing your audience or convincing them. A carefully composed image, an effectively executed graphic concept or a thoughtfully constructed layout can convert worthy content into memorable messages. We sat down with Campbell van Venrooy, a graphic designer with […]

The Do’s and Don’ts of Investor Days (Part 2)

Victoria Geddes
All, Investor Days, IR

VICTORIA GEDDES, EXECUTIVE DIRECTOR Following on from Part 1, published in our April 2019 Newsletter, this second part of the overview of Investor Days looks closely at what the audience wants to hear i.e. the content most commonly covered and how to put together an effective presentation. What your audience wants to know Bearing in […]

Feb 2019 Guidance Review

Daniel Jones
All, Disclosure, Guidance, IR, Reporting

DAN JONES, MANAGER SHAREHOLDER ANALYTICS During February we monitored companies in the S&P/ASX300 Index that reported for the period ending 31 December 2018, building a picture of the approach to guidance in this market and what that guidance is telling us about outlook for FY19. Around three quarters of companies within the S&P/ASX 300 index […]

The Do’s and Don’ts of Investor Days (Part 1)

Victoria Geddes
All, Investor Days, IR

VICTORIA GEDDES, ECECUTIVE DIRECTOR With reporting season behind us for another six months and post results roadshows underway or coming to a close, companies will soon be approaching one of the few windows available in the annual investor relations calendar to focus on planning and managing an investor day. These are not spontaneous events and […]

February reporting preview

Ron Cameron
Disclosure, Guidance, IR, Reporting

We entered the last reporting season in August 2018 with a high degree of optimism. That optimism was very short-lived as markets experienced a sharp sell-off in August, with actual results falling short of previous forecasts. Subsequently, news headlines have kept investors in a pessimistic mood, examples being the ongoing Brexit uncertainty and the ever-present […]

Timing Matters When Releasing Results

Victoria Geddes
Disclosure, Guidance, IR, Reporting

It is important for a company to select an appropriate day when presenting its financial results. With so many companies competing for attention from buy-side, sell-side and financial media, the correct timing of a result can be very important, especially for smaller companies. Understanding where the peaks and troughs are during a reporting season can help […]

Has Activism Peaked or is it regrouping

Victoria Geddes
Activism, AIRA, IR

Victoria Geddes, Executive Director Activism in Australia has some characteristics that are different to other countries around the world. We examine the make-up of activist campaigns in Australia compared to the global average and unpick some of the recent trends to see if there is a pattern emerging. This article is an extract from a paper […]

Engaging Retail investors – work smarter not harder

Giles Rafferty
All, IR, Shareholder Engagement

It is generally accepted, at least in the Australian equity market, that Retail Investors play an important role in the construction of a balanced shareholder register. The characteristics that make them attractive are that they generally invest for the long term, are volatility averse and focus on a company’s fundamentals. However these traits can also […]

Short Attacks: Is Glaucus an Aberration or the new Normal?

Victoria Geddes
Activism, All, Cybersecurity, IR, Short Attacks

VICTORIA GEDDES, EXECUTIVE DIRECTOR Two years ago we wrote an article on a well-established activist strategy in the US called the “short attack”. In Australia we are very familiar with short selling as a legitimate tactic to deliver portfolio performance but short or bear attacks are something else altogether. Equity markets and investors received their […]

Doing it on Purpose

Giles Rafferty
All, Corp Comms, IR, Purpose

Giles Rafferty, Corporate Communications Doing it on Purpose Having a Corporate Purpose must be one of the oldest, latest things. There is good degree of noise around the concept of ‘Corporate Purpose’ and it may feel like it has become a buzz word, but it is much more than that and always has been. A […]

FIRST Advisers at AIRA 2017 Annual Conference & Best Practice Investor Relations Awards

First Advisers
AIRA, All, Best Practice, Cybersecurity, IR

FIRST Advisers was an event sponsor at the AIRA 2017 Annual Conference and Best Practice IR Awards held in Sydney in late November. FIRST Advisers contribution included moderating a Crisis management panel discussion on managing breaches to cybersecurity and sponsoring the Award for Best Investor Relations by a Company in the ASX “Mid-cap 100”. Opening […]

A Powerful Tool for Supercharging your Investor Relations Effort

David Whittaker
All, IR, Perception Study

David Whittaker, Senior Investor Relations Adviser Why you need to understand perceptions of your company The substantial resources, including staffing, technology, printing, advisers and senior management time that most companies devote to investor relations are unfortunately not unlimited. It’s therefore crucial that these scarce resources are utilised as efficiently as possible with the best IR […]

The Annual Report and the importance of storytelling

First Advisers
All, Annual Report, Corp Comms, IR, Reporting

Philippa Ellis, Governance & Investor Relations “Stories are the most powerful communication tool we have bar none” according to Andy Goodman of The Goodman Centre. We all carry stories in our heads (pre-conceptions) that strongly influence the way we view the world. These stories cause our mind to be closed to alternative viewpoints even when […]

What content should I have on my IR Website?

Ben Rebbeck
All, IR, IR website, NIRI, Shareholder Engagement

NIRI Annual Conference 2017 Ben Rebbeck, Executive Director At FIRST Advisers we are often asked to assess the content of our clients’ Investor Relations websites for the appropriateness of its content and structure and assist them implement or rebuild their IR websites. The overriding imperative is to ensure the IR website meets the information needs of […]

Challenge the “Fitness” of your Investor Relations Plan

First Advisers
All, IR

Philippa Ellis, Governance & Investor Relations People spend an enormous amount of time and money developing new health and fitness plans to reach their fitness and wellbeing goals each year. Applying similar techniques to your annual Investor Relations (IR) plan will keep you energised and focused on achieving successful outcomes. Establish Achievable Goals You may not […]

When to Publish the Annual Report – A New Benchmark is Emerging

Victoria Geddes
All, Annual Report, IR, Reporting, Shareholder Engagement

VICTORIA GEDDES, EXECUTIVE DIRECTOR Ten years ago I can remember marvelling at those companies that managed to get it together and release their full, glossy annual report on the same day as reporting their full year results. You could count them on the fingers of one hand. More commonly, three to four months after the […]

Perception Studies – An Early Indicator of Emerging Issues

Victoria Geddes
Activism, All, IR, Perception Study

VICTORIA GEDDES, ECECUTIVE DIRECTOR Getting feedback from investors and other key stakeholders is a given within the investor relations profession. Many companies will do this informally following a roadshow and some will undertake a more formal engagement process, including the Chairman, ahead of the AGM. So a view often expressed by companies is that their […]

Why Aligning your Corporate and IR Strategies Matters

Victoria Geddes
All, Corp Comms, IR

VICTORIA GEDDES, ECECUTIVE DIRECTOR Nov 3, 2016 The starting point in the development of a company’s IR strategy is to understand the Corporate Strategy. Closely allied to this is an audit, for wont of a better word, of how this strategy is talked about within the company and communicated to external stakeholders. It is surprisingly […]

The Activist – Pariah or Positive Catalyst for Change?

Victoria Geddes
Activism, All, Analytics, Investor Tracking, IR

VICTORIA GEDDES, ECECUTIVE DIRECTOR The role played by the activist in the US capital markets has moved over the past 10-15 years from pariah to one of being a positive catalyst for change. Today proxy contests associated with nominations of independent directors for board seats are more likely to be won by activists than the […]

Reconsidering the retail investor

First Advisers
All, Investor Targeting, IR

PHIL MACKINTOSH and JONATHAN MAIRS, IR MAGAZINE Amid the continuing shift in assets to quant funds and passive ETFs, retail investors are a worthwhile target. Oct 6, 2016 At a glance Steady players Amid the shift from active to passive management, and from bottom-up to quant investing, retail investors stand out as a substantial group […]

What the buyside wants – lessons in investor targeting

Victoria Geddes
All, Investor Targeting, IR

VICTORIA GEDDES, EXECUTIVE DIRECTOR Aug 5, 2016 Results season has kicked off. While some companies are already out of the blocks, most are well into planning mode with ASX releases being drafted, presentations put together, Q&As assembled and the investor roadshow organised. For management teams it is often a gruelling process, but spare a thought […]

Results should craft a convincing story

David Whittaker
All, Corp Comms, IR, NIRI

DAVID WHITTAKER, SENIOR INVESTOR RELATIONS ADVISER A recent survey presented at the National Investor Relations Institute (NIRI) conference in San Diego in June highlighted how giving investors useful qualitative information when presenting your company’s financial results can make all the difference to how well the numbers are received. The institutional investors surveyed by Edelman emphasised […]

Surviving Brexit: Disclosure and guidance in uncertain times

Ben Rebbeck
All, Disclosure, Governance, Guidance, IR

Ben Rebbeck, Executive Director If there is one consistent thing the financial markets are saying about Brexit, it’s that there are uncertain times ahead for every major economy – and by extension, for the prospects and financial performance of every major company. When uncertainty reigns, we often hear management or Boards describe disclosure and guidance […]

Short Attacks: The new wolf pack

Victoria Geddes
Activism, All, Analytics, Corp Comms, IR, media relations

VICTORIA GEDDES, ECECUTIVE DIRECTOR Those who have been on the receiving end of a short attack describe the process as akin to being at war, or being pursued by a pack of wolves, with the company’s very destruction their opponent’s goal. A short or bear attack, to make the distinction clear, is not the same […]

Activist Investing Comes of Age

Victoria Geddes
Activism, All, Investor Tracking, IR

VICTORIA GEDDES, ECECUTIVE DIRECTOR In the past 5 years, post-GFC in particular, the activist investor has become firmly established as a recognised investor category within the funds management universe. Companies are starting to build into their investor relations strategy protocols that quickly elevate early signs of shareholder discontent up to the board. Politely acknowledging, but […]

FIRST Advisers in Listed@ASX Magazine

First Advisers
Activism, All, IR

FIRST Advisers is featured this month in the Listed@ASX magazine. Our executive director Victoria Geddes writes on the rise of activist investors in Australia, the tactics they use, and what listed companies need to know. Click here to see a PDF of the article.

ASX to lift the hurdles for listing

Ben Rebbeck
All, ASX Listing, IPO, IR

Ben Rebbeck, Executive Director The ASX has recently launched a consultation process ahead of proposed changes to the requirements for companies to list on the ASX market. If implemented, the changes will raise the financial and shareholder spread hurdles for all companies seeking to list, whether by IPO or ‘back-door’ listing. According to the ASX, […]

Follow FIRST Advisers at the World’s Premier Investor Relations Conference

First Advisers
All, Corp Comms, Governance, IR, NIRI

FIRST Advisers will be in San Diego next month at the premier global conference for investor relations professionals, staged by the US National Investor Relations Institute (NIRI). We will be posting live updates from our Twitter account and filing a post conference wrap up on this blog. The NIRI conference often provides a leading indicator for […]

The Right – and Wrong – Way to Target Investors

First Advisers
All, Analytics, Investor Tracking, IR, RORI

Ron Cameron, Senior Adviser, Investor Relations Public companies seeking to court new investors and build relations with existing ones will almost always be told by some register analysis providers that they should focus on targeting those investors with underweight or overweight positions in their stock, relative to a particular index. In other words, it’s those […]

Guidance to go out of fashion?

First Advisers
All, Governance, Guidance, IR

The new ASX guidelines may discourage companies from making earnings predictions public The proposed changes to the guidelines for listed companies on their continuous disclosure obligations (ASX Guidance Note 8) will provide greater clarity and a more pragmatic approach for companies that find themselves facing a sudden change in their profit expectations and want to […]

ASIC Revisits Guidelines on Collective Action by Investors

First Advisers
Activism, All, ASIC, Guidance, IR

The Australian Securities and Investments Commission is revisiting its guidelines around collective action by institutional investors and calling for public comment. This has become a hotter topic in the past few years with the increasing assertiveness of activist shareholders and recognition that collective action by investors can be good for financial markets.

The Value of Proactive PR

First Advisers
All, Corp Comms, IR

Outside major announcements like profit results or product launches, many companies find it hard to keep the media interested in what they are doing, especially with the attention span of the traditional media narrowing as journalist numbers fall and publication sizes shrink. It’s true that most companies don’t have significant announcements to make week-to-week or […]

7 tips for Soliciting Shareholder Vote

First Advisers
Access IR, All, Analytics, Investor Tracking, IR, Proxy Solicitation

In an age when the interactions between listed companies and their shareholders are increasingly automated and carried out electronically, the relatively low tech practice of soliciting votes still has a decisive role to play when companies need to win support from investors. The two strike rule at annual general meetings, increasingly bold activist investors and […]

29 July 2024

Enforcement Action

Suspension of trading

Price query letter

Mining Company Disclosures

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