BRVM > Listings > Mandatory information

Function of Media in the broadcasting of the information

Reminder of the statutory requirements in broadcasting of the information

Nature of the information and its quality are essential factors for the efficiency of any financial place.
So that the actors of the Regional Financial market play completely their role, it is necessary for them to have an information which is the most reliable and the most well-founded possible.

Mesures of the “OHADA”
General Regulation and Instructions of the Regional council of the Public Saving and Financial markets (CREPMF) .

Instructions of the Regional stock exchange of securities ( BRVM)

OHADA’s dipositions: Articles 847, 848 and 849: arrange that the companies from which the securities are registered on the Regional Securities Exchange have to publish, in a newspaper authorized to receive legal announcements, financial information clearly defined.
The Regional Council for Public Saving and Financial Markets
The General Regulations concerning the organization, the functioning and the control of the regional financial market (articles 127, 132, 160, 164 - 169 of the General Regulations) Article 132: when new facts having any incidence on the price of a listed security intervened, the issuer assures at his expense, in the widest possible way, the broadcasting of the information in the public, and it, as soon as it has knowledge of it.
The instruction N ° 29/2001 of 27/03/01 - Article 3: The companies from which securities are quoted to the Regional stock exchange of securities must publish in the official newsletter (BOC) and in a newspaper authorized to receive legal announcements, as press releases, any information susceptible to influence the rate of their security.
Bourse Régionale des Valeurs Mobilières:
The instruction N II-C of the regional security exchange relative to the disclosure of the information stipulates that all the important information must be revealed.

Type of Information about listed companies

Legal periodic information, quarterly, biannual and annual

The annual certified financial status;
The allocation result decision;
General Assembly statement;
The annual report of management;
The report of biannual activity certified;
Turnover forecasts and biannual profits tendencies (1st compartment);
Comments on quarterly activity;
Etc.

Event-driven information

Any new fact that can influence directly or indirectly the companies’ life and results and consequently the securities price (ex: signature of a new commercial contract, an investment in research, technological evolution etc.);

Any change of legal order ;
Statement on dividend distribution ;
Clearing of thresholds (10% - 20% -33,3% - 50% and 66% ) ;
Fusion, takeover bid, public offer, share exchange offer ;
Other information: new products, competitor's purchase, management changes etc.