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  • Update No. 44

    • Consequential on the statutory backing of continuing obligation for listed companies to disclose inside information

      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. 44

      December 2012

      Dear Sirs,

      GEM Listing Rule amendments consequential on the statutory backing of the obligation to disclose price sensitive information

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions. The reprinted pages incorporate amendments to the GEM Listing Rules set out in the Consultation Conclusions on Rule Changes Consequential On The Enactment Of The Securities And Futures (Amendment) Ordinance 2012 To Provide Statutory Backing To Listed Corporations' Continuing Obligation To Disclose Inside Information published on 30 November 2012.

      We have amended the GEM Listing Rules to:

      •  minimise duplication and overlap with the Securities and Futures (Amendment) Ordinance 2012 which implements the statutory obligation to disclose inside information;
      •  remove the existing continuing disclosure obligations which will become part of the statutory regime;
      •  make changes consequential on the removal of these core provisions; and
      •  introduce the concept of "trading halt".

      Coming into effect

      The amendments will come into effect on 1 January 2013.

      Please click HEREHERE to see the amendments to the GEM Listing Rules consequential on the statutory backing of the obligation to disclose price sensitive information.

      Yours faithfully,

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

      Mark Dickens JP
      Head of Listing

    • Minor amendments to the GEM Listing Rules

      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. 44

      December 2012

      Dear Sirs,

      Minor GEM Listing Rule amendments and implementation of the Environmental, Social and Governance Reporting Guide

      We enclose reprinted pages of the GEM Listing Rules and the filing instructions. The reprinted pages incorporate minor amendments to the GEM Listing Rules and amendments to implement proposals in the Consultation Conclusions on Environmental, Social and Governance Reporting Guide published on 31 August 2012.

      We have amended the GEM Listing Rules to:

      Minor GEM Listing Rule amendments

      •  rectify clerical errors;
      •  clarify and/or update relevant definitions, terminology and references; and
      •  make plain language amendments where appropriate.

      Environmental, Social and Governance Reporting Guide

      •  incorporate the Environmental, Social and Governance Reporting Guide as a recommended practice; and
      •  encourage issuers to report on environmental and social matters.

      Coming into effect

      The minor GEM Listing Rule amendments will come into effect on 1 January 2013. The Environmental, Social and Governance Reporting Guide will apply to issuers with financial years ending after 31 December 2012.

      Please click HEREHERE to see the minor GEM Listing Rule amendments.

      Please click HEREHERE to see the amendments to the GEM Listing Rules relating to the implementation of the Environmental, Social and Governance Reporting Guide.

      Yours faithfully,

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

      Mark Dickens JP
      Head of Listing