SECURITIES AND EXCHANGE COMMISSION

Protecting Investors in the Capital Markets

THE SECURITIES ACT, 2016

(Act No. 41 of 2016)

FULL DISCLOSURE ON YIELDS FOR ALL SECONDARY BONDS TRADED LOCALLY AND OFF-SHORE

DIRECTIVE NO. 1 OF 2022

Pursuant to Section 212 of the Securities Act, No. 41 of 2016 (“the Securities Act”), the Securities and Exchange Commission (“the Commission”) hereby DIRECTS all Dealers and Custodians to ensure full disclosure as per the financial reporting requirements on bond trades as prescribed under the Securities Act and the Rules made thereunder.

In particular, the yield for each bond traded must be disclosed by transacting parties to facilitate full disclosure by the reporting entities – Dealers and Custodians.

For any clarification you may have, please do not hesitate to contact the Commission on:
Telephone: +260 211 227 012 / 222 368 / 222 369 Email: info@seczambia.org.zm

Kindly be guided accordingly.

Dated at Lusaka this 9th day of August 2022.

[Signature]

PHILLIP K CHITALU
CHIEF EXECUTIVE OFFICER