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HKEx Updates Investors on Listed Company Information and Related Trading Arrangements

Corporate
02 Sep 2011

Hong Kong Exchanges and Clearing Limited (HKEx) wishes to update investors on access to listed company information that must be filed with HKEx and the trading arrangements in the unlikely event that its systems for the dissemination of such information do not function properly.

Information about listed companies expected to announce their results

HKEx has discontinued its daily newspaper advertisements about listed companies expected to announce their results because the advertisements were a short-term measure and the information is available elsewhere.  Under the Listing Rules, listed companies intending to hold board meetings to approve their results and / or declare, recommend or pay any dividend must publish an announcement at least seven clear business days before the board meeting date.  Investors may find these board meeting notification announcements on the HKExnews website (they are under the headline “Announcements and Notices – [Date of Board Meeting]”) and the company’s website.  In addition, a list of companies’ board meeting notifications is available on the HKEx corporate website (see the hyperlink in the Focus section of the homepage www.hkex.com.hk), the HKExnews website (www.hkexnews.hk),  HKEx’s Bulletin Board (www.bulletinboard.hk) and an additional bulletin board (www.hkex-is.hk) that will be available from Monday, 5 September.  The additional bulletin board will be supported by technology infrastructure that is separate from the two different infrastructures that support the Bulletin Board and HKExnews website.

Information about listed company announcements and notices

Information about listed companies’ announcements and notices is available on the HKExnews website and the bulletin boards.  The full text of each announcement and notice is available on the HKExnews website and the company’s website (a list of hyperlinks to all listed companies’ websites is available on the HKExnews website and the bulletin boards).

Trading arrangements if HKEx’s news dissemination systems are disrupted

If services of the HKExnews website and the bulletin boards are disrupted but there is timely publication of the company’s results announcement on the company’s website following the board meeting, trading in the company’s securities will continue because investors will have had advance notice of the results announcement through the company’s board meeting notification.  

However, a suspension will be required if companies make unscheduled announcements of price sensitive information when services of the HKExnews website, the Bulletin Board and the additional bulletin board are disrupted because there would have been no advance notice of the announcements.

Long-term measures regarding suspension policy

Over the long term, HKEx will explore whether any changes to its current suspension policy are necessary.  HKEx will also explore the feasibility of a trading halt policy including, among others, the duration of trading suspension, that would allow trading in shares of an issuer that released price sensitive information during trading hours to resume after a short trading halt. Any such changes would require careful and comprehensive consideration and consultation with the Listing Committee, the Securities and Futures Commission and the market, taking into account any improvements in the dissemination of information that may be able to be achieved.  


Ends

Updated 02 Sep 2011