COVID-19: Capital Markets Update – More Extensions of Reporting Deadlines (MFSA circular)

Due to the disruption brought about by the COVID-19 pandemic, ESMA recently issued a public statement, asking National Competent Authorities (including the MFSA) not to prioritise supervisory action against issuers for a period of 2 months from the reporting deadline in the case of annual financial reports (and for a 1-month period in the case of interim financial reports). In this connection, the MFSA recently informed the market that the Listing Authority will reconsider its policy to suspend trading of listed securities when an issuer fails to publish timely financial statements.

This being said, the MFSA asked issuers which expect the publication of their financial reports to be delayed to publish a Company Announcement in order to (a) inform the market about the delay, (b) highlight the reasons for the delay, and (c) disclose the estimated publication date of the financial reports.