Regulatory Alerts2023-08-24
Instruction No. 29/2001 on Information to be Disseminated by Companies Making a Public Offering on the UMOA Financial Market
The Regional Council for Public Savings and Financial Markets of the West African Monetary Union issued Instruction No. 29/2001 to mandate timely and accurate information disclosure by companies making public offerings of shares or bonds on the UMOA Financial Market. The regulation requires listed and unlisted companies to publish approved financial statements, profit allocation decisions, management commentaries, press releases on material events, and judicial decisions within specified deadlines. It further establishes equal treatment for bondholders, standardized reporting formats, and direct oversight by the Regional Council to ensure shareholders can effectively exercise their voting and financial rights.
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