TWSE Press Release
R.O.C. TWSE listed company shall at least hold or be invited to one investor conference in the R.O.C. every year starting from 2018.
Publish Date︰2017/03/10 17:52
The Taiwan Stock Exchange (TWSE) announced an amendment to Article 8 of “Procedures for Verification and Disclosure of Material Information of Companies with Listed Securities” on March 7th, 2017, requiring that an R.O.C. TWSE listed company shall at least hold or be invited to one investor conference in the R.O.C. every year starting from 2018 .
The provision that an R.O.C. TWSE listed company shall at least hold one investor conference every three years announced by TWSE in January, 2015 will be expired by the end of 2017. Considering that TWSE has required the technology sector (including bio-technology sector) and new companies listed on the TWSE after 2015, to hold at least one investor conference every year and for three consecutive years after being listed in TWSE, respectively, the competent authority approved to amend the provisions concerning the investor conference for TWSE listed companies for the purpose of gradually increasing the transparency of information disclosure and enhancing the information announcement of all listed companies. The amendments will enter into force in 2018 in order to maintain the stability of law application and to meet the demands of practical management.
TWSE indicates that after taking the norms and principles for the transparency of information disclosure within international society as a reference, channels for disseminating information of listed companies should provide for equal, timely and cost-efficient access to relevant information by users. Investor conferences (operation performance conference) are one of the communication channels for companies. In such conference, apart from illustrating the operation performance to investors and opinions on the prospect of the industry and expressing business ideas and corporation values that allow shareholders or potential investors to further realize the opportunities or challenges faced during the corporate operation development, it also provides investors with the opportunities to express opinions or conduct bilateral exchanges that further elevate the quality of corporate governance and protect the interests of shareholders.
Considering that listed companies have obligations to regularly and irregularly disclose information and that companies shall consistently maintain a smooth communication channel with investors, as well as that a sound information disclosure regime helps a corporation to raise funds in the capital market and maintain the business credibility, TWSE, therefore, amends the related provisions to increase the information transparency of listed companies.
In order to enhance the promotion on practical operations of investor conferences and help corporations to understand the benefit of investor conferences, TWSE will hold five “Seminars on the Practice of Investor Conferences” in Taipei, Kaohsiung and Taichung between March 22nd and 28th (online registration will be opened on March 6th) for R.O.C. TWSE listed companies. In the seminar, TWSE will not only illustrate the keys to regulation compliance and notices, but also invite a corporate representative to give speeches on the topic of “Perspectives of institutional investors on information disclosure of listed companies” and invite listed companies’ representatives to share their practical experiences on holding investor conferences. Please visit the Homepage of the TWSE website (About TWSE>Press Room>Event Information) for event information.