7/9/2020 | General Announcement::Cessation of Quarterly Reporting |
GENERAL ANNOUNCEMENT::CESSATION OF QUARTERLY REPORTING
Issuer & Securities
Issuer/ Manager
SATS LTD.
Securities
SATS LTD. - SG1I52882764 - S58
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
09-Jul-2020 19:11:09
Status
New
Announcement Sub Title
Cessation of Quarterly Reporting
Announcement Reference
SG200709OTHRPJKK
Submitted By (Co./ Ind. Name)
Low Siew Tian
Designation
Assistant Company Secretary
Description (Please provide a detailed description of the event in the box below)
Please refer to the attached le.
Attachments
SATS-Cessation_of_Quarterly_Reporting.pdf
Total size =344K MB
SATS LTD.
(Incorporated in the Republic of Singapore)
(UEN/Company Registration No. 197201770G)
CESSATION OF QUARTERLY REPORTING
The Board of Directors ("Board") of SATS Ltd. (the "Company") wishes to update the shareholders of the Company that following amendments to the Listing Rules of the Singapore Exchange Securities Trading Limited which took effect on 7 February 2020, the Company is no longer required to release its financial statements on a quarterly basis.
The Company believes that announcement of financial statements on a half-yearly basis coupled with timely updates on material developments are sufficient to keep the market informed of the Company's state of affairs. The Board has, after due deliberations and taking into consideration the management time, administrative costs and compliance efforts required in connection with quarterly reporting, decided not to continue with quarterly reporting. Accordingly, the Company will announce its financial statements on a half-yearly basis. The next financial results announcement shall be in respect of the half-year ending 30 September 2020.
However, the Company will continue to provide voluntary quarterly business updates on meaningful and relevant financial and non-financial information to shareholders in respect of each of the first and third quarters of the Company's financial period ending 30 June and 31 December respectively, and shall do so commencing with the quarter ending 30 June 2020.
Notwithstanding the foregoing, the Company will continue its proactive engagement with stakeholders through its various communication channels and comply with its continuing disclosure obligations to keep shareholders updated as and when appropriate, should there be any material developments (financial or otherwise) relating to the Company and the Group.
BY ORDER OF THE BOARD
- Prema Company Secretary
9 July 2020
Singapore
1
Attachments
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Disclaimer
SATS Ltd. published this content on 09 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2020 03:20:09 UTC