For admission of a security to trading, the issuer must submit:

• an application for admission of a security to trading in the official Free Market (the application must include basic identification data about the issuer and the issue, specify local or foreign regulated markets in which the issue is traded, or where an application for admission was submitted)
• an audited prospectus of the security approved or recognised by the Securities Commission including the date, way and place of its publication
  an evidence of allocation of an ISIN
• full powers (Power of Attorney) of the issuer authorising an Exchange member to submit an application for admission of a security if an Exchange member applies for admission on behalf of the issuer
• in case of book-entered securities a certificate of a local or foreign depository on the registration of the issue, in case of certificated securities four samples of the certificated security
• an extract from the Commercial Register
• the issuer’s Memorandum of Association or Articles of Association
• an evidence of publication of the financial statements for the previous three years

The Exchange Listing Committee abjudicates the application and the decision on admission is published.

Information disclosure and reporting duties

The extent of information disclosure duties of issuers whose securities are listed on the official Free Market complies with disclosure duties specified in the Capital Market Undertaking Act. In line with this Act, the information disclosure duties are defined in Article 7 of the Requirements for Admission of a Security to Trading in the Exchange’s Official Free Market.

This for example includes the duty to send to the PSE the annual report within 4 months after the end of the calendar (or business) year, the semi-annual report no later than two months after the end of the half-year, information about convening a General Meeting, announcement of the issuer’s decision to terminate listing on the regulated market including information concerning public draft of the contract in harmony with the law, draft amendments to the Memorandum of Association or Articles of Association and a number of other information which can result in a substantial change in the security’s price or worsen the issuer’s ability to meet the obligations arising from the security. Compared with the PSE’s prestigious markets, the disclosure duties on the official Free market are not so broad.

Source: Prague Stock Exchange, http://www.pse.cz