The issuers of financial instruments that are listed on any of the NASDAQ OMX Riga lists are obliged to disclose information to the RIG without delay, however, not later than releasing it to mass media. This refers to any material events of the issuer. A material event is any event known to the issuer, which may have an effect on the price of the listed instrument, or may induce the investor to buy or sell the financial instrument.
The RIG publishes the information disclosed by the issuer on its website, in order to provide equal access to information for all market participants.
The issuer has the obligation to disclose its financial situation by providing non-audited 3, 6, 9 and 12 months financial statements. The RIG publishes the financial statements on its website. The issuer has the obligation to disclose information on:
- preliminary financial results,
- management board proposal to pay dividends, and dividend payments,
- resolutions of general meetings of shareholders,
- amendments to the Charter,
- changes in management board,
- changes in shareholder structure (if become known to the issuer),
- changes in share capital,
- issues of debt securities,
- financial forecasts and budgets,
- important co-operation agreements,
- acquisition or disposal of other companies,
- changes in the issuer’s core business,
- reorganization, dissolution, bankruptcy,
- shareholders’ agreements,
- buying or transfer of own shares,
- listing on another market.
The issuer has to advise the RIG about changes in shareholder structure that have acquired or transferred shares resulting in stepping over certain ownership interest thresholds (i.e. under/above one-tenth, one-fourth, one half, three quarters or 95% of the issuer’s voting shares. The issuer has to provide this information to the RIG within seven business days from receiving the information from the shareholder.
