Companies going by the calendar this year

The Bucharest Stock Exchange (BSE) has come closer to the Western capital markets, at least when it comes to how the corporate filings are treated. The BSE management instructed the listed companies to specify the dates when they are supposed to release the annual and quarterly financial reports and the dates when the General Meetings of Shareholders are scheduled. The calendar put together by the BSE based on the information released by companies already includes nearly 300 events – financial report filings and GMs. The BSE officials took the model of the London Stock Exchange, one of the leading capital markets in the world. The BSE management says the main reason for requesting financial calendars was improving transparency. “We made the decision to put together such a calendar to boost the transparency and correctness of the market considering the experience of the international markets and the realities of the Romanian market,” Stere Farmache, the manager of the Bucharest Stock Exchange said. The listed companies have more transparency-related obligations than stipulated in the capital market legislation, such as filing financial reports on a quarterly basis instead of every six months. ZF