Minority Controllers

Minority Controllers

11/05/2011

Pursuant to Section 61 of the SFO (Chapter 571), no person shall be or become a Minority Controller, i.e. a person who, either alone or with any associated person or persons, is entitled to exercise, or control the exercise of, 5 per cent or more of the voting power at any general meeting of HKEx, except with the approval in writing of the SFC after consultation with the Financial Secretary of Hong Kong

Article 55 of the Articles of Association provides that when a person becomes a Minority Controller of HKEx i.e. one who is entitled to exercise or control the exercise of 5 per cent or more of the voting power at any general meeting of HKEx, he shall forthwith provide written notice to HKEx stating whether he has obtained the SFC's approval under the SFO

The SFC has so far granted approval to 8 entities to be Minority Controllers on the basis that the shares are held by them in custody for their clients

On 7 September 2007, HKEx was notified by Hong Kong Monetary Authority in writing that the Government of Hong Kong Special Administrative Region, through the Exchange Fund, has increased its beneficial interest to 5.88 per cent of the then total issued ordinary shares of HKEx and become a minority controller of HKEx