A working glossary of
ASX & IR terms.
The terms we use across the firm — Listing Rule 3.1, continuous disclosure, JORC, capital-raise structures, trading halts. Written to be read by chairs, MDs, and the people who advise them.
12 terms, and counting.
We add to this as new questions arrive across mandates. If something you would expect is missing — tell us; we will write it.
ASX Listing Rule 3.1 (continuous disclosure)
ASX Listing Rule 3.1 requires a listed entity to immediately disclose to ASX any information concerning it that a reasonable person would expect to have a material effect on the price or value of its securities.
Continuous disclosure
Continuous disclosure is the ongoing obligation of an ASX-listed entity to disclose price-sensitive information to the market as soon as it becomes aware of it, under ASX Listing Rule 3.1 and section 674 of the Corporations Act.
Trading halt
A trading halt is a temporary pause in trading in a listed entity's securities, granted by ASX at the entity's request, typically to allow time to prepare a material announcement under Listing Rule 3.1.
Voluntary suspension
A voluntary suspension is a request by a listed entity for ASX to suspend trading in its securities for longer than the two-day trading halt window, typically to manage a more complex disclosure event.
ASX query letter (aware letter / price & volume query)
An ASX query letter — most often an 'aware letter' or 'price and volume query' — is a formal request from ASX asking a listed entity whether it is aware of information that explains a movement in its share price or volume.
Capital raise (ASX)
An ASX capital raise is the issuance of new shares (or other securities) by a listed entity to raise capital, executed through one or more structures — placement, entitlement offer, share purchase plan, or rights issue.
Placement
A placement is an issue of new shares to institutional and sophisticated investors, typically completed in a short bookbuild and used as the main institutional component of an ASX capital raise.
Share purchase plan (SPP)
A share purchase plan (SPP) is a retail capital raise structure allowing existing ASX shareholders to subscribe for new shares up to A$30,000 per holder, typically alongside an institutional placement.
Entitlement offer
An entitlement offer is a pro-rata capital raise structure giving existing ASX shareholders the right to subscribe for new shares in proportion to their existing holding — either renounceable (rights are tradeable) or non-renounceable.
Investor relations (IR)
Investor relations is the discipline of communicating between a listed company and the investment community — combining communications, disclosure, finance, and strategy to support a fair market for the company's securities.
Annual General Meeting (AGM)
The Annual General Meeting (AGM) is the once-a-year shareholder meeting required of ASX-listed entities, where shareholders vote on board elections, remuneration, and major resolutions.
JORC Code (2012)
The JORC Code is the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — the standard ASX-listed mining entities must use when disclosing exploration and resource information.
Talk to us about disclosure.
Most of these terms map directly to a workstream we run. If you'd like a read on how the framework applies to your company — start there.