ASX released its COVID-19 – Continuous Disclosure ObligationsOf...

ASX released its COVID-19 – Continuous Disclosure Obligations

Of interest

"ASX offers the following practical guidance on disclosure obligations:  Earnings guidance: many listed entities that issued earnings guidance prior to the outbreak of COVID-19 have taken the opportunity to withdraw that guidance. That is both acceptable and understandable in the circumstances.
Entities that have not reviewed their published guidance in light of COVID-19 are strongly encouraged to do so and, if it is no longer current, to update it or, perhaps more sensibly for most entities in the current highly uncertain climate, to simply withdraw it."

and

"Decisions not to pay a dividend or distribution: Under listing rule 3.21(b), a listed entity must notify ASX immediately if it makes a decision not to pay a dividend or distribution on a quoted security in respect of a period if it has previously announced an intention to pay a dividend or distribution for that period; oro paid a dividend or distribution in respect of the prior corresponding period.
An entity that decides to cancel a dividend that it has already determined to pay should immediately announce that fact to the market under listing rule 3.1. T
The announcement should explain the legal basis for the cancellation (including confirming that the cancellation is authorised by the entity’s constitution, where that is a legal requirement)."

And not so relevant to this company the following guidance.

"Entities in financial difficulty: a listed entity in financial difficulty is subject to the same disclosure standards under listing rule 3.1 as any other entity. If there is an adverse development affecting the financial condition or prospects of an entity that falls outside the carve-outs to immediate disclosure in listing rule 3.1A and a reasonable person would expect information about that development to have a material effect on the price or value of its securities, the listed entity must immediately disclose that information under listing rule 3.1.
For example, information that the board of a listed entity has resolved to appoint an administrator should be notified to the market immediately under listing rule 3.1. Such information does not fall within any of the categories of information protected from immediate disclosure under listing rule 3.1A.1 and a reasonable person would expect it to have a material effect on the price or value of the entity’s securities.
Similarly, information that a major lender to the listed entity has declared an event of default and called for the immediate repayment of the outstanding balance of its loan, causing the entity to become insolvent, should also be notified to the market immediately under listing rule 3.1."

No news is good news at this time. I was glad to snuzzle up some cheap shares. Will be interesting to see the material impact on Kovests earnings.

Either way the present situation takes care of market dominance for the next few years.