With effect from 27th November 2018, the Listing Authority of the Malta Financial Services Authority announced a number of changes to Chapters 4 and 5 of the Listing Rules, which changes transpose a series of European Union legislative amendments.
Briefly, Chapter 5 of the Listing Rules, specifically Listing Rule 5.56A has been amended to specify that with effect from financial years commencing 1st January 2020, all annual reports of debt and equity issuers to which the Malta Listing Rules apply are to draw up their annual reports in a single electronic format.
Additionally, a new Listing Rule 5.260 has been added to Chapter 5, setting out detailed requirements as to the expected contents of the ‘investor information’ section on the homepage of the website of debt or equity issuers listing securities on a regulated market in Malta. These changes aim to enhance the transparency and accessibility of information given by such issuers to the market.
Chapter 4, specifically Listing Rule 4.7, has also been amended to reflect the entry into force of a number of provisions forming part of the EU Prospectus Regulation (EU Regulation 2017/1129). The amendments made to Listing Rules 4.7.1, 4.7.7 and 4.7.9 relate to new provisions concerning exemptions from the requirement to publish a prospectus in the event of an offer of securities to the public.
A revised version of Chapter 4 may be found here and a revised version of Chapter 5 may be found here. A complete set of the Malta Listing Rules updated as at 27th November 2018 is available here. For further information on the latest round of amendments to the Listing Rules as well as the prospective entry into force of the majority of the provisions of the Prospectus Regulation (scheduled for 21st July 2019), please contact us on capitalmkts@camilleripreziosi.com.
