Corporate Disclosure Policy

Magni > Corporate Disclosure Policy

Introduction

The Corporate Disclosure Policy (“this Policy”) of Magni-Tech Industries Berhad (“Magni” or “the Company”) sets out the requirements for disclosure including the quality of disclosure to provide shareholders and investing public with comprehensive, accurate and quality information on a timely basis.

This Policy applies to all directors, management and employees of Magni-Tech Industries Berhad (“Magni” or “the Company”) and its subsidiaries (“the Group”). It outlines the Group’s approach toward the determination and dissemination of material information, the circumstances under which the confidentiality of information will be maintained, and restrictions on insider trading. It also provides guidelines in order to achieve consistent disclosure practices across the Group.
Objective

This Policy aims to achieve the following objectives:
1. To promote and demonstrate a high standard of integrity and transparency through timely, accurate, quality and complete disclosure of material information.
2. To build good investor relations with the shareholders and investing public.
3. Ensure compliance with applicable legal and regulatory disclosure obligations.
4. Prevent the misuse of confidential and price-sensitive information.
Designated Spokeperson

The Group designated the following Authorised Spokespersons for overseeing and coordinating the disclosure of material information. The list of the Authorised Spokespersons is as follows:-

(a) Chairman

(b) Managing Director

(c) any person who is authorised by the Chairman or Managing Director or the Board

These spokespersons are responsible for overseeing and coordinating the disclosure of material information and handling communications with regulators, investors, analysts and media.
Mode of Disclosure

The Company makes use of brand of communication channels to disseminate information regarding the Group, which include announcements via Bursa Malaysia Securities Berhad (“Bursa Securities”)’s electronic filing system, press releases, the Company’s corporate website, email or written communications, general meetings and other briefing or presentations materials.
Principle of Disclosure Control

The Company has adopted the following principles and procedures to bridge and enhance the relationship with the shareholders and investing public :
1. Immediate disclosure of Material Information
  Any material information that could reasonably be expected to have a material effect on the price value or market activity of the shares or the investors’ decision making, must be announced immediately to Bursa Securities.
2. Withholding of Material information and maintaining confidentially
  In certain circumstances, disclosure of material information may be temporarily withheld if it would prejudice the Company’s legitimate business interests. In such a case, strict confidentiality must be maintained to prevent leaks or selective disclosure.
3. Restriction of Insider Trading
  Directors or Employees who possess undisclosed material information are prohibited from dealing directly or indirectly in the Company’s securities unless the information has been publicly disclosed at least one full market day after public disclosure of the material information.
4. Unusual Market Activity (“UMA”)
  The Company will undertake due enquiry when there is unusual trading activity or price movement of the Company’s securities upon receipt of a written UMA query from Bursa Securities. Upon determination of the cause, the Company should issue a clarifying announcement on an immediate basis.
5. Market Speculation or Rumour
  As a general rule, the Company will not comment on any market speculation or rumour. However, if required by Bursa Securities or if the rumour has an impact on the Company’s share price or investor decisions, an appropriate announcement will be made.
6. Company & Website
  The Company’s website, www.magni-tech.com.my provides an avenue for the shareholders and the investing public to access information pertaining to the Group’s profile, business and investor updates. The website must be kept updated to ensure that shareholders and the public can access the latest information.
Periodic Disclosure

The Company ensure timely and accurate release of:

(i) The quarterly interim financial results, which are prepared in the format which is in compliance with the Main Market Listing Requirements (“MMLR”) of Bursa Securities and is announced to Bursa Securities after approved by the Board, and (ii) the Annual Report / Circular, which are distributed to shareholder (if applicable) within stipulated timeframe required under MMLR and provide comprehensive information on financial and non-financial performance, governance, and strategy.
Review of Policy

This Policy shall be reviewed by the Board as and when necessary and may be amended as the Board may deem appropriate.