RE:RE:RE:PT Menara: companyRegarding Copper's point re Timely News Disclosure, this is from the TSX Venture Exchange:
3.1 An Issuer must disclose Material Information concerning its business and affairs immediately after management of the Issuer becomes aware of the existence of Material Information, or in the case of information previously known, upon it becoming apparent that the information is material.
3.2 While the policy of the Exchange is that all Material Information must be released immediately, subject to pre-notification of the Regulation Services Provider as outlined in section 4 below and certain confidentiality exceptions as outlined in section 11 below, the Issuer must exercise judgment as to the timing, propriety and content of any news release concerning corporate developments.
3.3 Many developments must be disclosed at the proposal stage, or before an event actually occurs, if the proposal gives rise to Material Information.
3.4 An announcement regarding a proposed development or an intention to proceed with a transaction or activity should not be made unless the Issuer has the ability to carry out the intent (although proceeding may be subject to contingencies) and a decision has been made to proceed with the transaction or activity by the board of directors of the Issuer, or by senior management of the Issuer with the expectation of concurrence from the board of directors. Disclosure of corporate developments must be handled carefully and requires the exercise of judgment by the Issuer and its management as to the timing of an announcement of Material Information, since either premature or late disclosure may result in damage to the reputation of the Issuer and/or the market.
3.5 Unless an original announcement of Material Information indicates that an update will be disclosed on another indicated date, the Exchange generally requires that the Issuer issue a further news release dealing with the status of a previously announced transaction if the update has not been made or if the Exchange has not received the required documentation from the Issuer within 30 days after the announcement, or if the transaction has not closed within 90 days after the announcement. In addition, immediate disclosure is required to be made by the Issuer of any new Material Information related to the proposed transaction or to the previously disclosed information.
3.6 Issuers are not required to interpret the impact of external political, economic and social developments on their affairs, but if the external development can reasonably be expected to have or has had a direct effect on their business and affairs that is both material in the sense outlined above and uncharacteristic of the effect generally experienced as a result of that development by other issuers engaged in the same business or industry, Issuers are urged, where practical, to explain the particular impact on them. For example, a change in government policy that affects most issuers in a particular industry does not require an announcement, but if it affects only one or a few issuers in a material way, an announcement should be made.