Note to subscribers for the amendments to

the rules governing the listing of securities on the GEM (the "GEM Listing Rules")

Update No. 58

 

December 2018

Dear Sirs,

Amendments to the GEM Listing Rules

 

We enclose reprinted pages of the Listing Rules and filing instructions. The reprinted pages incorporate amendments to implement the proposals of the "Consultation Conclusions Paper on Review of the Corporate Governance and Related Listing Rules" published on 27 July 2018.

We have amended the Listing Rules to:

•  strengthen the transparency and accountability of the board and/or nomination committee and election of directors, including independent non-executive directors ("INEDs");

•  improve transparency of INEDs' relationships with issuers;

•  enhance criteria for assessing independence of potential INED candidates;

•  promote board diversity, including gender diversity; and

•  require greater dividend policy transparency.

 

Coming into effect

The amendments will come into effect on 1 January 2019.

Please click HERE to see the amendments to the GEM Listing Rules.

Yours faithfully,
For and on behalf of
The Stock Exchange of Hong Kong Limited

David Graham
Head of Listing