Note to subscribers for the amendments to the rules governing the listing of securities on the Growth Enterprise Market (the "GEM Listing Rules")
Update No. 30
Various amendments to the GEM Listing Rules
We have reprinted pages of the GEM Listing Rules. The reprinted pages incorporate amendments to formally re-align the operational hours of the Electronic Disclosure regime with the suspension of the closing auction session and to implement the proposal regarding self-construction of assets under Issue 15 of the 2008 Combined Consultation Paper as well as a correction of a previous clerical error.
We also enclose the filing instructions.
Closing auction session
We have amended rule 16.18(3)(a) to formally re-align the operational hours of the Electronic Disclosure regime for publication of most announcements with the market trading hours during the suspension of the closing auction session which took effect on 23 March this year.
Self-construction of assets
We have amended the notifiable transaction rules to disapply the aggregation requirements when an issuer enters into a series of transactions to construct, develop or refurbish an asset for its own use in its ordinary and usual course of business if the sole basis for aggregation is because the series of transactions forms parts of one larger asset. This implements the proposal under Issue 15 of the 2008 Combined Consultation Paper, the Consultation Conclusion for which was published in July this year.
Coming into effect
The amendments will come into effect on 1 September 2009.
Please click HERE to see the amendments relating to closing auction session.
Please click HERE to see the amendments relating to self-construction of assets.
For and on behalf of
The Stock Exchange of Hong Kong Limited
Head of Listing