Entire Section

  • 2011

    Update Number Effective Date

    (DD/MM/YY)
    Topics
    Update No. 41 11/11/2011 Debt Issues for Professional Investors Only
    Update No. 40 20/06/2011 Ex-entitlement Trading and Shareholder Approval
    Update No. 39 07/03/2011 Changes in trading hours
    Update No. 38 01/02/2011 Changes to requirements for Qualified Property Acquisitions and formation of joint ventures
    Update No. 37 01/01/2011 Minor amendments to the GEM Listing Rules
    Update No. 35 01/02/2011 Mixed Media Offer

    • Update No. 41

      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. 41

      21 October 2011

      Dear Sirs,

      Debt Issues for Professional Investors Only

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions. The reprinted pages incorporate amendments to implement proposals in the Consultation Conclusions on the Listing of Debt Issues to Professional Investors Only published on 21 October 2011.

      The amendments:-

      •  Present the Rules in a more accessible language;
      •  Align the definition of professional investor in the Rules with that in the Securities and Futures Ordinance;
      •  Leave the existing issuer eligibility criteria broadly unchanged;
      •  Simplify application and approval procedures;
      •  Replace the current prescribed disclosures for listing documents with a requirement to include information that is customary for offers of debt securities to professionals; and
      •  Remove continuing obligations on issuers that are not appropriate for offers that are only available to professionals.

      Coming into effect

      The amendments will come into effect on 11 November 2011.

      Please click HEREHERE to see the amended Rules.

      Yours faithfully,

      For and on behalf of
      The Stock Exchange of Hong Kong Limited

      Mark Dickens JP
      Head of Listing

    • Update No. 40

      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. 40

      20 May 2011

      Dear Sirs,

      Ex-entitlement Trading and Shareholder Approval

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions. The reprinted pages incorporate amendments to implement proposals in the Consultation Conclusions on Ex-entitlement Trading and Shareholder Approval published on 20 May 2011.

      We have amended the GEM Listing Rules to:-

      •  Prevent a share from trading ex-entitlement before shareholder approval;
      •  Require the record date to be set at least 3 business days after the date of shareholder approval (i.e. at least one cum-trading day will be provided);
      •   Require a minimum of one last cum-trading day after the general meeting; and
      •   Apply the proposed changes to all conditional entitlements that are subject to general meeting approval.

      Coming into effect

      The amendments will come into effect on 20 June 2011.

      Please click HEREHERE to see the amendments to the GEM Listing Rules relating to Ex-entitlement Trading and Shareholder Approval.

      Yours faithfully,

      For and on behalf of
      The Stock Exchange of Hong Kong Limited

      Mark Dickens JP
      Head of Listing

    • Update No. 39

      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. 39

      28 January 2011

      Dear Sirs,

      Amendments to the GEM Listing Rules relating to changes in trading hours

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions.

      From 7 March 2011, HKEx will extend trading hours by starting its securities and derivatives markets earlier and shortening the lunch break in two phases. The reprinted pages incorporate Rule amendments to align the following listing matters with the extended trading hours:

      •  the publication windows for issuers' announcements on the GEM website;
      •   the deadline for publishing an issuers' monthly return;
      •   the cut-off time for exercising structured products with an early exercise feature; and
      •  the cut-off time for emergency share registration and book closure arrangements during a black rainstorm warning.

      Coming into effect

      The amendments will come into effect on 7 March 2011.

      Please click HEREHERE to see the amended Rules.

      Yours faithfully,

      For and on behalf of
      The Stock Exchange of Hong Kong Limited

      Mark Dickens JP
      Head of Listing

    • Update No. 38

      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. 38

      21 January 2011

      Dear Sirs,

      Amendments to the GEM Listing Rules relating to the Consultation Conclusions on proposed changes to requirements for Qualified Property Acquisitions and formation of joint ventures

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions.

      The reprinted pages incorporate amendments to implement proposals in the consultation conclusions on "Proposed Changes to Requirements for Qualified Property Acquisitions and Formation of Joint Ventures" published on 21 January 2011.

      We have amended the GEM Listing Rules to:

      •  expand the scope of the Qualified Property Acquisition exemption to cover government land acquisitions in the Mainland through public auctions or tenders (the current exemption applies to land acquisitions in Hong Kong only). For government land acquisitions in other jurisdictions, individual waiver applications will be considered if they meet the criteria described in the new Rules;
      •  remove the exemption conditions that are considered to be impractical or burdensome, including (i) the restrictions on the joint venture's financing and profit distribution arrangements when the Qualified Property Acquisition is undertaken on a joint basis; and (ii) the requirements for the issuer to obtain an annual general mandate from shareholders before it engages in any Qualified Property Acquisition on a joint basis with a Qualified Connected Person;
      •  accelerate the disclosure of information relating to the formation of joint ventures for Qualified Property Acquisitions in the annual report to the announcement and circular published at the time of the transaction;
      •   exempt Qualified Property Acquisitions from the property valuation requirement; and
      •  exempt the formation of a joint venture from being treated as a transaction under the Rules on notifiable transactions if it is engaging in a single-purpose project of a revenue nature to the issuer and in its ordinary and usual course of business.

      Coming into effect

      The amendments come into effect on 1 February 2011.

      Please click HEREHERE to see the amended Rules.

      Yours faithfully,

      For and on behalf of
      The Stock Exchange of Hong Kong Limited

      Mark Dickens JP
      Head of Listing

    • Update No. 37

      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. 37

      15 December 2010

      Dear Sirs,

      Minor amendments to the GEM Listing Rules

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions.

      The reprinted pages incorporate amendments to remove the requirements for issuers to file various printed documents with the Exchange.

      Coming into effect

      The amendments will come into effect on 1 January 2011.

      Please click HEREHERE to see the amended Rules.

      Yours faithfully,

      For and on behalf of
      The Stock Exchange of Hong Kong Limited

      Mark Dickens JP
      Head of Listing

    • Update No. 35

      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. 35

      January 2011

      Dear Sirs,

      Amendments to the GEM Listing Rules relating to Mixed Media Offer

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions. The reprinted pages incorporate amendments to implement the Consultation Conclusions on the Mixed Media Offer proposal jointly published by the Exchange and the Securities and Futures Commission in November 2010.

      The rule amendments :-

      •  give effect to the class exemption available under section 9A of the Companies Ordinance (Exemption of Companies and Prospectuses from Compliance with Provisions) Notice (Cap.32L). Subject to conditions, the class exemption allows issuers of equity securities and debentures to issue paper application forms in public offers without an accompanying paper prospectus; and
      •  introduce a new headline category for Mixed Media Offer-related announcements which may be submitted for publication under broader e-submission windows.

      We also enclose the filing instructions.

      Coming into effect

      The amendments will become effective when the class exemption becomes law expected to be on 1 February 2011.

      Please click HEREHERE to see the amendments to the GEM Listing Rules relating to Mixed Media Offer.

      Yours faithfully,

      For and on behalf of
      The Stock Exchange of Hong Kong Limited

      Mark Dickens JP
      Head of Listing