The listing environment for companies on the QE Venture Market is specifically designed for SMEs but still entails a degree of regulation commensurate with being traded on a listed market. A company on the QE Venture Market agrees to comply with certain requirements in terms of transparency and financial communications. Listed companies must disclose information that is likely to have material effect on the price of its securities, shareholders’ investment decisions or their interests.
Companies should refer to the QFMA Offering & Listing of Securities Rulebook "Second Market" and the QSE Rulebook for full details but in summary the following represent the key on-going disclosures:
Annual reports audited by independent auditors provided within 90 days of the end of the financial period; Semi-annual accounts (reviewed only) provided within 45 days of the end of the financial period; Quarterly reports within 30 days of end of relevant period and Immediate announcement to the market of price-sensitive information.
In addition to the QFMA’s Offering & Listing of Securities Rulebook "Second Market" and QSE Rulebook, companies on the QE Venture Market are required to adhere to specific elements of the Corporate Governance Code in Venture Market published by QFMA. The Code, operated on a “comply or explain” basis, is a set of rules designed to deliver efficient, effective and entrepreneurial management that contributes to the board discharging its duties in the best interest of shareholders.
Prospective companies should refer to the QFMA for further advice.