Immediate disclosure of material information
Is a listed issuer required to make immediate
disclosure of a notice issued pursuant to section 218 of the Companies Act,
1965 (“S. 218 Notice”)?
There is usually no requirement for an immediate
announcement to be made by a listed issuer of a S.218 Notice as this is merely
a letter of demand. However, where a S.218 Notice is considered to be material
pursuant to paragraph 9.03 of the Main LR based on the facts and circumstances
of a particular listed issuer, the listed issuer must make an immediate
announcement of the same.