17.79

Past version: effective up to 30/09/2020
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Under the T+2 settlement system, securities trade ex-entitlement (an "ex-date") for two trading days prior to the advertised date on which a listed issuer's transfer books or register of members is to be closed (the "book-close date") preceding a record date; the 2 trading days prior to the book-close date being referred to in this rule (and rule 17.80) as the first and second ex-date, respectively. A typhoon occurring on either of the two ex-dates may affect the ability of the purchaser to effect registration in time. Accordingly, in the event of a typhoon, the following arrangements will apply:—

(1) Where the No. 8 signal or above is hoisted or remains hoisted between 9 am and 12 noon on either the first or second ex-date and is not lowered at or before 12 noon on the relevant ex-date:—
(a) the last time for accepting shares for registration shall be deferred to the next business day during normal business hours for each ex-date affected; and
(b) the book-close date shall be automatically postponed by the number of ex-dates affected;
(2) Where the No. 8 signal or above is hoisted or remains hoisted between 12 noon and 3 pm on either the first or second ex-date:—
(a) the last time for accepting shares for registration shall be deferred to the next business day during normal business hours for each ex-date affected; and
(b) the book-close date shall be automatically postponed by the number of ex-dates affected;
(3) Where the No. 8 signal or above is hoisted between 3 pm and 4 pm on the first ex-date, no changes will be made to the timetable for accepting shares for registration in respect of the reduced business hours on such ex-date;
(4) Where the No. 8 signal or above is hoisted between 3 pm and 4 pm on the second ex-date but lowered at or before 9 am on the next business day:—
(a) the last time for accepting shares for registration shall be deferred to 12 noon on the next business day; and
(b) if the original book-close date is not a business day, the book-close date shall be automatically postponed to the next business day;
(5) Where the No. 8 signal or above is hoisted between 3 pm and 4 pm on the second ex-date but lowered after 9 am but at or before 12 noon on the next business day:—
(a) the last time for accepting shares for registration shall be deferred to 5 pm on the next business day; and
(b) if the original book-close date is not a business day, the book-close date shall be automatically postponed to the next business day;
(6) Where the No. 8 signal or above is hoisted between 3 pm and 4 pm on the second ex-date but not lowered until after 12 noon on the next business day:—
(a) the last time for accepting shares for registration shall be deferred to 12 noon on the following business day; and
(b) the book-close date shall be automatically postponed to such date;
(7) Where the No. 8 signal is lowered at or before 12 noon on the first ex-date, no changes will be made in respect of the time for accepting shares for registration or the book-close date in respect of the reduced business hours on such ex-date. On the other hand, where the No. 8 signal is lowered at or before 12 noon on the second ex-date, the time for accepting shares for registration shall be deferred to at least 5 pm on the same day but no change will automatically be made to the book-close date;
(8) In each of the circumstances referred to in sub-paragraphs (1) to (7) above, listed issuers may alter the stated book-closure period in accordance with any delays made to the book-close date so that the book-closure period remains the same;
(9) Listed issuers shall not be required to make any announcements with respect to changes made to the ex-dates or the book-close date in accordance with this rule. All investors and practitioners should be aware of these emergency share registration arrangements as any subsequent announcement given of date changes after a typhoon is not likely to assist them. On the other hand, if the deferments referred to above affect the dividend payment date or the end of the book-closure period, a listed issuer must give notice (by way of an announcement) of the new dividend payment date and any extension in the book-closure period as soon as practicable;
(10) Where any of the circumstances referred to in sub-paragraphs (1) to (7) above occur on any deferred ex-dates or on a postponed book-close date, the same arrangements will apply mutatis mutandis;
(11) Listed issuers are required to ensure that where a book-close date is automatically altered by virtue of these arrangements any reference to such date in a resolution, listing document, announcement or circular to shareholders will include such altered date.

Notes:

1 For clarity, the proposed arrangements have been summarised in Table 1 set out at the end of this Chapter.
2 For the purposes of this rule and Table 1 set out at the end of this Chapter:—
(a) references to "normal business hours" in respect of a share registrar means at least 9 am to 4 pm; and
(b) references to a "trading day" shall have the same meaning as in the Rules of the Exchange.