Entire Section

  • Continuing Obligations

    • Disclosure in Reports

      • 18A.08

        A Biotech Company must include in its interim (half-yearly) and annual reports details of its research and development activities during the period under review, including:

        (1) details of the key stages for each of its Core Products under development to reach commercialisation, and a general indication of the likely timeframe, if the development is successful, for the Core Product to reach commercialisation;
        (2) a summary of expenditure incurred on its research and development activities; and
        (3) a prominently disclosed warning that a Core Product may not ultimately be successfully developed and marketed.

        Note: Details to be disclosed should be in line with those disclosed in the listing document of the Biotech Company under rules 18A.04 and 18A.05.

    • Sufficient Operations

      • 18A.09

        Where the Exchange considers that a Biotech Company listed under this chapter fails to comply with rule 13.24, the Exchange may suspend dealings or cancel the listing of its securities under rule 6.01. The Exchange may also under rule 6.10 give the relevant issuer a period of not more than 12 months to re-comply with rule 13.24. If the relevant issuer fails to re-comply with rule 13.24 within such period, the Exchange will cancel the listing.

    • Material Changes

      • 18A.10

        Without the prior consent of the Exchange, a Biotech Company listed under this chapter must not effect any acquisition, disposal or other transaction or arrangement or a series of acquisitions, disposals or other transactions or arrangements, which would result in a fundamental change in the principal business activities of the relevant issuer as described in the listing document issued at the time of its application for listing.

    • Stock Marker

      • 18A.11

        The listed equity securities of a Biotech Company listed under this chapter must have a stock name that ends with the marker "B".

    • Dis-application of rules 18A.09 to 18A.11

      • 18A.12

        Upon application by the listed Biotech Company and demonstration that it is able to meet the requirements of rule 8.05, rules 18A.09 to 18A.11 do not apply to a Biotech Company listed under this chapter.