Provisions are introduced into the Exchange Listing Rules in connection with the publication on the Exchange's website of listing-related information on companies and amendments to Chapter 6, Rule 2B.07(6) and Rule 2A.39 of the Exchange Listing Rules.
The rule changes will come into effect on February 1, 2000. |
The Stock Exchange of Hong Kong wishes to announce the introduction of new provisions into the Exchange Listing Rules in connection with the publication on the Exchange's website of listing-related information on companies and amendments to the Chapter 6, Rule 2B.07(6) and Rule 2A.39 of the Exchange Listing Rules.
Publication on the Exchange's website of listing-related information on companies - Rule 2.07
An amendment is made to Rule 2.07 expressly to permit the Exchange, among other things,
-
to publish on the Exchange's website, for certain specified purposes, any information that has been provided by any issuer or listing applicant to the Exchange pursuant to any obligation under the Exchange Listing Rules to publish such information; and
-
to impose a fee for access or use of such information.
The amendment reflects the Exchange's intention to utilise the latest developments in technology and telecommunications to make listing-related information on companies readily accessible to the investing public.
Suspension, Cancellation and Withdrawal of Listing - Chapter 6
Amendments have also been made to Chapter 6 of the Exchange Listing Rules to provide for the Exchange to direct resumption of trading in securities that are suspended. The new rule is contained in Rule 6.07 of the amended Chapter 6. This power is considered desirable in the interests of ensuring that shares are continuously traded and reflects the Exchange's view that suspensions beyond that absolutely necessary deny shareholders and investors reasonable access to the market and are restraint on its proper functioning.
Resumption of Trading - Rule 2B.07(6)
Further amendments have also been made to Chapter 2B of the Exchange Listing Rules to provide for a specific review procedure in respect of any decision by the Listing Committee to direct the resumption in trading. The new rule is contained in Rule 2B.07(6).
Functions and Powers of the Listing Appeals Committee - Rule 2A.39
Review of the decision is ultimately vested in the Listing Appeals Committee whose decision shall be final and binding on the issuer. A minor amendment has therefore also been made to Rule 2A.39 to enlarge the jurisdiction of the Listing Appeals Committee in relation to its power to direct resumption of trading on securities.
Re-printed pages of the Exchange Listing Rules will be distributed in due course.
Corporate Communications