Regulatory Alerts2022-01-17
Circular on Profit Warnings Clarification
This circular mandates that the threshold for issuing profit warnings under the Capital Markets Regulations is based on earnings after tax. Issuers must issue a profit warning as soon as management, defined specifically as the Chief Executive Officer, becomes aware of a likely drop in earnings exceeding 25%. Compliance with these specific clarifications regarding earnings metrics and management accountability is required for all issuers of securities.
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