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Message: Securities Law and Corporate Governance
Well I definitely find this part quite interesting in many aspects relating to the last year and a half. "The principal requirement for timely disclosure is that a reporting issuer issue and file a press release “forth- with” when a material change in its affairs occurs or when material information relating to its affairs becomes known to management. A “material change” is a change in the business, operations or capital of the reporting issuer that would reasonably be expected to have a significant effect on the market price or value of any of the securities of the reporting issuer. The defi- nition also includes situations where a decision to implement a change referred to above is made by the board of directors or other persons acting in a similar capacity, or by senior management of the reporting issuer who believe that confirmation of the decision by the board of directors, or such other persons acting in a similar capacity, is probable." IMO.
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