To cater for growth in the number of corporate announcements in the future, Singapore Exchange Limited (SGX) is pleased to announce today that it is increasing the capacity of its SGXNET infrastructure.
This upgrade is scheduled to be completed in the third quarter of 2009.
The number of SGXNET announcements filed has grown by nearly half over the last three years. Since last month, SGX has already increased the capacity of SGXNET to cater to an anticipated increase in corporate announcements at the end of this month - when many companies are expected to announce the results of their annual general meeting (AGM) resolutions.
SGX anticipates a marked increase in the number of SGXNET submissions between 5 pm and 8 pm from 28 April to 30 April 2009. To avoid any potential delays in releasing their announcements, companies may wish to do so outside of these peak hours.
Companies may release non-material announcements at any time. However, where a company's Board of Directors has decided that a material announcement has to be broadcast during trading hours, the company should do so only after it has obtained a temporary halt in the trading of its securities.
SGXNET is an Internet-based system that allows users to submit their corporate announcements securely to the market from anywhere in the world, using a security token. Its users are listed companies and their agents, as well as bond issuers.