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13.15

For the purposes of rules 13.15 to 13.20, the following terms have the following meanings:— 

(1) [Repealed 1 July 2008]
(2) [Repealed 1 July 2008]
(3) "listing date" means the date on which securities of the new applicant commence trading on GEM;
(4) [Repealed 1 July 2008]
(5) references to a "disposal" (of securities) includes the creation of any option, rights or interests (over such securities) but shall exclude the following:
(a) any stock lending arrangement with an underwriter of the initial public offering of the new applicant's securities which satisfies the following conditions:
(i) the stock lending arrangement is fully described in the initial listing document and must be for the sole purpose of covering any short position prior to the exercise of the underwriter's over-allotment option or similar right;
(ii) the maximum number of shares to be borrowed from the relevant shareholder is the maximum number of shares that may be issued upon full exercise of the over-allotment option; and
(iii) the same number of shares borrowed is returned to the relevant shareholder within 3 business days after the last day on which the over-allotment option may be exercised or, if earlier, the date on which the over-allotment option is exercised in full; and
(b) any placing and issue of securities made in the manner described in rule 20.90(4) during the second six month period of the issuer's listing date where:
(i) there is no change in the number of securities held by the relevant shareholder before and after completion of the placing and issue of securities; and
(ii) the placing of securities does not result in a controlling shareholder of the issuer ceasing to be a controlling shareholder after completion of the placing and issue of securities.