Listing Decisions Series 59

Whether certain rights granted to Investor X would be permitted to continue after listing, given that the rights were not generally available to other shareholders of Company A and the nominated directors' compliance with such rights might, in certain circumstances, conflict with the duty of directors to act in the best of the interests of shareholders as a whole at all times [LD59-1] [August 2007]

	Whether the guaranteed discount to the IPO price of the mandatory Convertible Bonds and the negative pledge under the non-mandatory Convertible Bonds available only to the Convertible Bondholders would violate the fair and orderly principle and the requirement to treat all holders of listed securities fairly and equally under Listing Rule 2.03 [LD59-2] [August 2007]
	Whether the pre-IPO investment in Company A by Investor A would fulfill the requirement under Listing Rule 2.03(4) that all holders of listed securities are to be treated fairly and equally [LD59-3] [August 2007]
	Whether the grant of veto rights over certain major corporate matters to the Investors of the Convertible Instruments prior to listing would violate the requirement to treat all holders of listed securities fairly and equally under Listing Rule 2.03(4) [LD59-4] [August 2007]
	Whether certain special rights available only to the Bondholders under the terms of the convertible bonds would be in compliance with the general principle that all holders of listed sec urities are to be treated fairly and equally under Listing Rule 2.03 [LD59-5] [August 2007]
	Whether the special rights available to the Pre-IPO Investor complied with the principles under Listing Rules 2.03(2) and (4) [LD59-6] [August 2007]
	Whether Company B would be regarded as a member of the public at the time of listing and whether shares held by it should be subject to lock-up in a case where Company B was entitled to hold approximately over 10% shareholding interest in Company A upon the conversion of the convertible bonds subscribed by it prior to listing [LD59-7] [August 2007]