Regulatory Alerts2016-04-18
Added · Updated
Circular to All Issuers of Securities and Listed Companies at NSE on Profit Warnings
The Capital Markets Authority requires all public securities issuers and Nairobi Securities Exchange listed companies to promptly announce profit warnings when projected earnings drop by at least 25 percent compared to the prior financial year. These announcements must be submitted to the Authority for pre-distribution approval, published in at least two national newspapers within twenty-four hours of the triggering event, and released independently of audited account publications to avoid regulatory breaches. Company boards and management bear direct accountability for ensuring timely, factual disclosures and proactive risk oversight to prevent late or inaccurate profit warnings.
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