ESMA_QA_1004

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1004

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Regulatory Context

Regulation : PROSPECTUS

Level 1 Regulation: Prospectus Regulation 2017/1129

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Public offer

Subject Matter: Supplements - Supplement to prospectuses: audited annual financial statements

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Question

Submission Date: 05 May 2021

Does the publication of new audited annual financial statements during the period of validity of a base prospectus or a non-equity prospectus automatically trigger the obligation to produce a supplement?

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ESMA Answer

Answer Date: 05-05-2021

[ESMA31-62-1258 Prospectuses Q&A 8.5] No. When new audited annual financial statements are published during the period of validity of a base prospectus or a non-equity prospectus, contrary to the situations specified in Article 18(1)(a) of Commission Delegated Regulation 2019/979, there is no automatic trigger to publish a supplement in such a scenario. Without prejudice to the powers of the home competent authority, the issuer should make its own materiality assessment pursuant to Article 23(1) of the PR to determine whether a supplement is necessary or not.

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This document was automatically extracted from the ESMA EMIR Q&A database.