From 18 June listed companies will be able to release a notice to shareholders informing them of the availability of their annual report, as opposed to mailing paper copies.
Companies will then only need to provide copies of the annual report to those shareholders who request one; otherwise the annual report can be made available online.
This follows a decision by Minister of Commerce, Lianne Dalziel, not to disallow the proposed changes to the NZX Listing Rules, bringing the rules in line with Section 209 of the Companies Act.
T he NZX Listing Rule amendments were supported by the Listed Companies Association.
NZX Head of Market Services, Elaine Campbell, said, “These amendments mean cost efficiency and flexibility in communications. They're a positive step forward for our listed companies.
“We expect over time more and more shareholders will elect to receive company communications electronically. This will also help companies reduce the environmental impact of printing vast numbers of paper documents,” said Campbell.
The NZX Listing Rule amendments are available in full here: http://www.nzx.com/regulation