Commenting on the release of its updated Best Practice Investor Relations guidelines, AIRA said companies need to “lift the bar” in the way they communicate important information to shareholders.
“We would like to see listed entities tell all shareholders exactly when they are scheduling investor briefings, presentations and webcasts so that more people can find out in a timely manner exactly what is happening,” AIRA chief executive Ian Matheson said.
“Such routine details are not always made widely available, but it is essential to do so if all investors are to be kept fully informed,” Mr Matheson said.
Mr Matheson also pointed out regulators have “made it clear” that they want all investors to be provided with all “price sensitive information” in a timely manner.
He added it was “up to the corporations” to use the communication tools at their disposal to engage with as many shareholders as possible.
“The fourth edition of AIRA’s best practice guidelines also calls for live webcasts of annual general meetings, including question and answer sessions,” a statement from AIRA said.
“It also recommends that companies consider providing a full transcript of proceedings, including formal speeches and presentations, along with relevant question-and-answer exchanges of all significant briefings,” AIRA said.
“When it comes to investor days and analyst briefings, all questions and answers should be monitored for market-sensitive information and be released immediately to securities exchanges if any inadvertent disclosures are made,” it said.
