Hong Kong Exchanges and Clearing Limited (HKEx) has amended its Main Board and GEM Listing Rules in moves that will result in reduced printing requirements. The amendments will come into effect on Friday, 15 February 2002.

Karen Lee, executive vice president and head of Listing, Regulation & Risk Management, said the rules had been amended to reduce the volume and cost of printed documents generated by issuers when complying with the rules. "Upon implementation of these amendments, Main Board and GEM issuers will be able to make greater use of electronic means to distribute corporate documents," she said.

"Subject to certain conditions and with the shareholders' approval, issuers will be permitted to send corporate communications by electronic means or make them available to shareholders in English or Chinese only.

"Shareholders who have elected to receive corporate communications electronically retain the right to change their minds. Issuers must include on all corporate communications delivered electronically, the steps to be taken by the investor to notify the issuer of any change. Shareholders must be informed that they may at any time elect to receive corporate communications either in printed form or electronically.

"Shareholders who have chosen to receive corporate communications electronically, but who have difficulty in receiving them or gaining access to the communications, will promptly, on request, be sent printed copies free of charge.

"GEM documents published on an issuer's website must remain there for at least five years; and corporate communications or listing documents of a Main Board issuer, published on a website, must also remain there for at least five years," Ms Lee said.

There will be a reduction in the number of printed copies of certain documents required to be submitted to the Stock Exchange. At the same time, Main Board and GEM issuers are required to submit to the Exchange electronic copies of all listing-related corporate communications for publication on the HKEx or GEM websites, Ms Lee added.

The amended Main Board Listing Rules will be available for viewing on HKEx's website at http://www.hkex.com.hk and the amended GEM Listing Rules on the GEM website at http://www.hkgem.com from the effective date.

A copy of the announcement is attached for your reference. (See full announcement)