Section 2 Modifications and Additional Requirements

(see rules 24.09(2), (3) and (5)(a))
 
1.    In the case of an introduction in the circumstances set out in rule 10.18(3):—
 
  (1)    the summary of the provisions of the constitutive documents of the overseas issuer, which is required by rule 24.09(2);
 
  (2)    the summary of the relevant regulatory provisions (statutory or otherwise) of the jurisdiction in which the overseas issuer is incorporated or otherwise established, which is required by rule 24.09(3); and
 
  (3)    the comparison between those constitutive documents and the listed Hong Kong issuer's existing articles of association, which is required by rule 24.09(5)(a),
 
  may be published on the Exchange’s website and the issuer’s own website rather than set out in the listing document.
 
2.    In such cases the details of the articles of association or equivalent document required to be set out in the listing document by paragraph 7 of Part A of Appendix 1 may be limited to a summary of the changes, if any, between the Hong Kong issuer's articles of association and the overseas issuer's proposed constitutive documents, in respect of each of the areas set out in that paragraph, provided that the summary also includes details of any differences or additional provisions in the proposed new constitutive documents which confer on directors of the overseas issuer any special powers, the exercise of which would affect the rights or interests of the shareholders.
 
3.    The summary and, where relevant, comparison of the constitutive documents required by rules 24.09(2) and 24.09(5)(a), must be set out under the following headings and where any item is not applicable the words "not applicable" should be inserted under the relevant heading:—
 
(1)    directors
 
(a)    power to allot and issue shares
 
(i)    summary
 
(ii)    differences
 
(b)    power to dispose of the overseas issuer's or any of its subsidiaries' assets
 
(i)    summary
 
(ii)    differences
 
(c)    compensation or payments for loss of office
 
(i)    summary
 
(ii)    differences
 
(d)    loans to directors
 
(i)    summary
 
(ii)    differences
 
(e)    giving of financial assistance to purchase the overseas issuer's or any of its subsidiaries' shares
 
(i)    summary
 
(ii)    differences
 
(f)    disclosure of interests in contracts with the overseas issuer or any of its subsidiaries
 
(i)    summary
 
(ii)    differences
 
(g)    remuneration
 
(i)    summary
 
(ii)    differences
 
(h)    retirement, appointment, removal
 
(i)    summary
 
(ii)    differences
 
(i)    borrowing powers
 
(i)    summary
 
(ii)    differences
 
(2)    alterations to constitutional documents
 
(i)    summary
 
(ii)    differences
 
(3)    variation of rights of existing shares or classes of shares
 
(i)    summary
 
(ii)    differences
 
(4)    special resolutions — majority required
 
(i)    summary
 
(ii)    differences
 
(5)    voting rights (generally and on a poll)
 
(i)    summary
 
(ii)    differences
 
(6)    requirements for annual general meetings
 
(i)    summary
 
(ii)    differences
 
(7)    accounts and audit
 
(i)    summary
 
(ii)    differences
 
(8)    notice of meetings and business to be conducted thereat
 
(i)    summary
 
(ii)    differences
 
(9)    transfer of shares
 
(i)    summary
 
(ii)    differences
 
(10)    power of overseas issuer to purchase its own shares
 
(i)    summary
 
(ii)    differences
 
(11)    power for any subsidiary of the overseas issuer to own shares in its parent
 
(i)    summary
 
(ii)    differences
 
(12)    dividends and other methods of distribution
 
(i)    summary
 
(ii)    differences
 
(13)    proxies
 
(i)    summary
 
(ii)    differences
 
(14)    calls on shares and forfeiture of shares
 
(i)    summary
 
(ii)    differences
 
(15)    inspection of register of members
 
(i)    summary
 
(ii)    differences
 
(16)    quorum for meetings and separate class meetings
 
(i)    summary
 
(ii)    differences
 
(17)    rights of the minorities in relation to fraud or oppression thereof
 
(i)    summary
 
(ii)    differences
 
(18)    procedures on liquidation
 
(i)    summary
 
(ii)    differences
 
(19)    any other provisions material to the overseas issuer or the shareholders thereof.
 
4.    [Repealed 5 July 2021]
 
Additional Documents on Display
 
5.    The requirements of Chapter 24 and this Appendix mean that in the case of an introduction in the circumstances set out in rule 10.18(3) the following additional documents must be published on the Exchange’s website and the issuer’s own website:—
 
(1)    a summary of the relevant regulatory provisions (statutory or otherwise) of the country where the overseas issuer is incorporated or otherwise established together with a copy of all relevant statutes and/or regulations;
 
(2)    a summary of the provisions of the proposed new constitutive documents of the overseas issuer and a comparison between the overseas issuer's constitutive documents and the constitutive documents of the listed Hong Kong issuer or issuers whose securities have been exchanged; and
 
(3)    copies of the full valuation report in respect of any property valuations which are only summarised in the listing document (see rule 24.09(5)(e)).