In some countries information must be disclosed regarding the ratio of assets and earnings to fixed charges in connection with preferred securities. The specific disclosure requirements in certain countries are referenced below.
Hong Kong - Where listing is sought for securities with a fixed dividend, particulars of the profits cover for the dividend must be disclosed in accordance with paragraph 16 of Appendix 1 Part A of the Stock Exchange of Hong Kong's Listing Rules.
Ontario and Quebec - The requirements for statements of asset coverage and earnings coverage are set forth in Ontario Securities Act Regulation, Section 59, and in Schedule I of Quebec's Regulation.
Spain - Although Spanish rules do not required a ratio, in "annex B" of the Ministerial Order of July 12, 1993, it is required to provide in the prospectus all the necessary data and information to enable calculation of this ratio.
The United States - The ratio of earning to fixed charges (or the ratio of earnings to combined fixed charges and preferred stock dividends if preferred stock is being registered) must be disclosed. There are specific requirements as to the manner of computation of the ratio and the definition of certain terms. The requirements are set forth in Item 503 of the SEC's Regulation S-K.
