ANNOUNCEMENT
AMENDMENTS TO MAIN BOARD LISTING RULES TO REFLECT USE OF
HKEX WEBSITE RATHER THAN TELETEXT SYSTEM FOR DISSEMINATION
OF LISTED COMPANIES NEWS
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We have amended the Main Board Listing Rules to reflect the use of the HKEx website rather than the Teletext system for the dissemination of listed companies news.
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BACKGROUND
The launch of the Growth Enterprise Market in November 1999 marked the beginning of a shift towards use of a website of the Hong Kong Exchanges and Clearing Limited ("HKEx"), namely the GEM website, rather than the Teletext system as the main channel for the dissemination of listed companies news.
On the Main Board, the main channel for dissemination of listed companies news has until recent times been the Teletext system and the newspapers. However, much use has been made in the past couple of years of the HKEx website for the dissemination of listed companies news and other information on the Main Board. Main Board issuers have, since last year, been required to submit to us a soft copy of any announcement, notice or other document which they are obliged to publish in the newspapers pursuant to or otherwise for the purposes of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Main Board Listing Rules") for same day publication on the HKEx website. Listed companies news is also widely available in the market from information vendors.
AMENDMENTS
The Main Board Listing Rules contain some references to the use of the Teletext system or trading system for news dissemination purposes. We have amended the Main Board Listing Rules to remove such references.
The opportunity is also being taken to amend Paragraph 4 of Practice Note 11 to the Main Board Listing Rules to bring the provision into line with the existing practice on resumption of trading, i.e. generally speaking, resumption only takes place at the commencement of the morning, not afternoon, trading session.
COMING INTO EFFECT
The amendments to the Main Board Listing Rules will come into effect on 8 April 2002. The Main Board Listing Rules (as amended) will be available for viewing on the HKEx website at http://www.hkex.com.hk from that date.
Re-printed pages of the Main Board Listing Rules will be distributed in due course.