The WSE tightens the rules. “The absence of two annual reports will result in exclusion from trading”

The WSE is introducing changes to the Regulations of the Alternative Trading System and, in accordance with the new regulations, companies that do not publish two consecutive annual reports will be obligatorily excluded from trading, the stock exchange said in a press release.

“This obligation also applies to consolidated annual reports in the case of issuers preparing consolidated reports. To consider that the information obligation has been fulfilled, the report must be prepared and submitted in accordance with the rules applicable in the ATS and contain a complete annual financial statement,” it was written.

“The new regulation also provides for an additional restriction. An issuer whose financial instruments are excluded will be able to apply for the introduction of its securities to trading no earlier than after 12 months. The new rules will cover both the NewConnect market and the ASO Catalyst market, although – as follows from the current supervisory practice of the WSE – the exclusion sanction will mainly apply to companies from the NewConnect market,” it added.

Moreover, it was indicated that the WSE currently identifies over 30 companies that have not published two or more annual reports and which could be excluded from trading after the new regulations enter into force.

“However, they have an additional six months to clear the arrears, because the changes to the ATS Regulations will come into force on May 7, 2026. After this date, exclusion from trading will take place immediately after the expiry of the five-month deadline for publication of the annual report, if the issuer has not published reports for two consecutive financial years,” it said.

The WSE will also publish a list of issuers meeting the exclusion criteria on the NewConnect website. (PAP Business)

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