Once implemented, the ASX’s new lodgement process is expected to improve the efficiency and accuracy of corporate action announcements. The system is currently still under development and the ASX has indicated that it will release updates throughout the process.
The ASX has released details of its proposed new process for lodging announcements relating to corporate actions such as dividends, calls, buy-backs and entitlement offers.
According to the ASX’s media release, instead of creating and lodging a PDF file, the listed entity will complete an online "smart form" which will pre-populate certain fields such as entity details, and allow the selection of appropriate fields, such as the security to which the corporate action applies.
When the smart form is completed and lodged, the system will then create a PDF announcement for release to the market and automatically deliver the information in the smart form to the ASX systems and then to market information recipients.
Listed entities will still lodge PDF documents for announcements other than those targeted by the project and they can still provide information to supplement the smart form by way of a separate PDF announcement.
ASX anticipates piloting the system in early 2013 with a view to phasing in the new system during 2013.
See the media release, dated 4 June 2012.