ASX Announcements and What is Price Sensitive

There are two different concepts:

  1. ASX announcement types (the forms and document categories).
  2. Whether the content of the announcement is market (price) sensitive.

An Appendix number does not automatically mean the announcement is price sensitive. When companies lodge announcements through the ASX Market Announcements Platform (MAP), they indicate whether they believe the announcement is market sensitive under Listing Rule 3.1. ASX may review or override that assessment if necessary.

Common ASX announcement types

Announcement Type Typical Price Sensitive? Comments
Continuous Disclosure (Listing Rule 3.1) 🟢 Almost Always Material information not captured by a standard appendix.
Trading Update 🟢 Yes Guidance upgrades/downgrades.
Profit Guidance 🟢 Yes Often among the biggest movers.
Earnings Results (4D / 4E) 🟢 Yes Half-year and full-year results.
Acquisition / Disposal 🟢 Usually Depends on size and significance.
Major Contract Won/Lost 🟢 Usually Material customer or project.
Capital Raising 🟢 Usually Placements, entitlement offers, etc.
Appendix 3B – Proposed Issue of Securities 🟡 Sometimes Price sensitive if it materially changes capital structure.
Appendix 3G – Issue of Securities 🔵 Usually No Often just confirms securities have been issued.
Appendix 3H – Cessation of Securities 🔵 Usually No Administrative.
Dividend Announcement (Appendix 3A.1) 🟢 Often Especially if dividend differs from expectations.
Director Appointment / Resignation 🟡 Sometimes CEO/CFO departures often are.
Board Changes 🟡 Sometimes Depends on significance.
Quarterly Report (Mining) 🟢 Often Exploration companies can move sharply.
Appendix 4C Cash Flow 🟡 Sometimes Very important for early-stage companies.
Resource Upgrade (JORC) 🟢 Yes Can move miners dramatically.
Drilling Results 🟢 Yes Major driver for explorers.
Clinical Trial Results 🟢 Yes Biotechnology sector.
FDA/TGA Approval 🟢 Yes Usually highly price sensitive.
Trading Halt Request 🟡 Usually Indicates material news is coming.
Voluntary Suspension 🟡 Usually Often precedes significant news.
Scheme of Arrangement 🟢 Yes Corporate control event.
Takeover Bid 🟢 Yes Highly price sensitive.
AGM Presentation 🟡 Sometimes Depends on whether new information is included.
Investor Presentation 🟡 Sometimes Only if it contains new material information.
Appendix 3Y – Change of Director’s Interest 🔵 Usually No Insider trading disclosure.
Appendix 3X / 3Z 🔵 No Administrative director interest notices.
Corporate Governance (4G) 🔵 No Compliance disclosure.
Notice of Meeting 🔵 Usually No Unless proposing a transformational transaction.
Proxy Results 🔵 No Administrative.

The announcements professional traders pay closest attention to

These are the announcements that most commonly create significant price movements:

  • 🚨 Profit warnings or upgrades
  • 🚨 Earnings releases (4D/4E)
  • 🚨 Mergers & acquisitions
  • 🚨 Major capital raisings
  • 🚨 Takeover offers
  • 🚨 Resource discoveries (miners)
  • 🚨 Clinical trial results (biotech)
  • 🚨 Major contract wins/losses
  • 🚨 Material litigation
  • 🚨 CEO resignation (sometimes)
  • 🚨 Trading halt lifted with significant news

The announcements that are usually administrative

These rarely move the market on their own:

  • Appendix 3Y (Director’s Interest)
  • Appendix 3X
  • Appendix 3Z
  • Appendix 3G
  • Appendix 3H
  • Appendix 4G
  • Notice of AGM
  • Proxy results
  • Change of registered office
  • Appendix 4A (CDIs)

How to see it in Trade for Good

The quickest way to see if there is a News Announcement for your favourite stock or ETF, is to view it in the watchlist.

For more information on announcements and where to see them, check the watchlist here

The Bottom Line

The long and short of it is, if you see a red A, then its price sensitive and it’s worth your attention, click on the announcement to learn more.

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