The Ethiopian Capital Market Authority (ECMA) has granted a final one-month extension, until April 9, 2025, for publicly held companies to submit crucial documents related to their existing shares, as mandated by Directive No. 1030/2024. This extension addresses requests and allows for further submissions from companies with over 50 shareholders, including those currently raising capital.
Companies must provide detailed information, including:
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- Total number of shares issued (subscribed and fully paid) and total number of shareholders.
- Value of existing securities at the time of issuance.
- Start and end dates of completed offers or issuances.
- Copies of offer documents (prospectus, shareholder notices).
- Details of offer-related advertisements (content, media outlets, time).
- For ongoing offers: start and end dates, offer details, shareholder resolutions, and supporting documents.
Submissions must include a signed statement from company management attesting to document accuracy, hard copies delivered to the ECMA head office, and soft copies emailed to designated ECMA addresses in PDF, Word, or Excel format.
The ECMA emphasizes that this data submission is separate from security registration, which must be completed within one year of November 14, 2024. Failure to comply with registration and submission requirements may result in penalties and share issuances being treated as occurring after the directive’s effective date.
