SiteMinder Granted Relief from Quarterly Reporting by ASX
SDR (SDR) Share Update September 2024 Monday 9th
SiteMinder Receives ASX Approval to Cease Quarterly Reporting
SiteMinder Limited (ASX: SDR) has announced that it will no longer be required to submit quarterly Appendix 4C reports, following confirmation from the Australian Securities Exchange (ASX) that the company has fulfilled its obligations under Listing Rules 4.7B and 4.7C.
Instant Summary:
- SiteMinder no longer required to lodge Appendix 4C quarterly reports.
- ASX confirms SiteMinder has met obligations under Listing Rules 4.7B and 4.7C.
- Next periodic report will be the half-year report (Appendix 4D) due before 28 February 2025.
- SiteMinder will continue engaging with shareholders to keep them informed.
ASX Approval for Reporting Relief
SiteMinder Limited (ASX: SDR) has announced a significant change in its reporting requirements. The Australian Securities Exchange (ASX) has confirmed that SiteMinder has met its obligations under Listing Rules 4.7B and 4.7C, granting the company relief from the need to lodge quarterly Appendix 4C reports.
This decision marks a notable shift in SiteMinder's reporting schedule. Instead of the quarterly reports, the company will now focus on its half-yearly and annual reports. The next scheduled report is the half-year report (Appendix 4D), which will be released before 28 February 2025.
Ongoing Shareholder Engagement
Despite the change in reporting frequency, SiteMinder has assured its shareholders that it will continue to engage with them regularly. The company emphasizes its commitment to keeping investors informed about its activities and performance. This approach aims to maintain transparency and trust with its shareholder base.
About SiteMinder
SiteMinder Limited is a global company known for its innovative software platforms that enhance the revenue potential of hotels. Its flagship products include SiteMinder, which helps hotels maximize their revenue, and Little Hotelier, an all-in-one hotel management software designed for small accommodation providers.
Headquartered in Sydney, SiteMinder has a global presence with offices in Bangalore, Bangkok, Barcelona, Berlin, Dallas, Galway, London, and Manila. The company's technology and extensive partner ecosystem generate over 120 million reservations annually, worth more than A$75 billion in revenue for its hotel customers.
The ASX's decision to relieve SiteMinder from quarterly reporting is likely to have a mixed impact on the company's stock. On one hand, the reduced reporting requirements may streamline operations and reduce administrative burdens, potentially leading to cost savings. On the other hand, some investors may be concerned about the reduced frequency of updates, which could impact transparency and investor confidence.
Investor Reaction:
Analysts are likely to have varied reactions to this announcement. While some may view the reduced reporting requirements as a positive step towards operational efficiency, others may express concerns about the potential lack of regular updates. Overall, the company's commitment to ongoing shareholder engagement will be crucial in maintaining investor trust.
Conclusion:
Investors should keep an eye on SiteMinder's upcoming half-year report and monitor the company's continued engagement with shareholders. The ASX's decision to grant reporting relief could have long-term implications for the company's operational efficiency and investor relations.