Stock exchange regulations
Sir, — In the interests of keeping an active and informed market for company shares, the Stock Exchange Association of New Zealand requires compliance with regulations in their listing manual. One of these requirements is that listed companies must provide a halfyearly announcement that states the profit, tax provision, comparisons with corresponding period and explanations of any unusual factors significantly affecting profits during this period. The Christchurch-based company, Trans Holdings, Ltd, in its most recent half-yearly announcement only stated the group turnover with no indications of profit for the period. As this company is the subject of a take-over offer, this information must be made available to shareholders. — Yours, etc., R. A. IVORY. May 19, 1979.
[Our commercial editor comments: “The Stock Exchange Association of New Zealand is concerned with ensuring a reasonably informed sharemarket; that is why listing requirements ask for specific information in a half-yearly report. A few companies’ trading is of a marked seasonal nature — so much that publishing figures during the year would give a misleading picture of the company’s affairs. This applies to the tourist industry, and both Trans
Holdings and the Mount Cook group have been granted dispensations from the requirements relating to halfyearly reports.”]
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Press, 28 May 1979, Page 16
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203Stock exchange regulations Press, 28 May 1979, Page 16
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