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Legal Update

3-Month Delay in Extension of the "Black Out" Period

31 December 2008
Mayer Brown JSM Legal Update

As mentioned in the "Consultation Conclusions on Proposals in the 2008 Combined Consultation Paper" recently published by The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the Stock Exchange has decided to amend the listing rules to extend the "black out" period.  Such amendment was initially scheduled to take effect on 1 January 2009, details of which are set out in our Client Alert of 8 December 2008 (Issue 18). 

In light of the recent comments from listed issuers, the media and Legislative Councillors on the Financial Affairs Panel together with views from the statutory regulator, the Listing Committee of the Stock Exchange has decided to defer, but not withdraw, the implementation of the amendment to 1 April 2009.

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A HKEx News Release of 30 December 2008 contains information and other related materials, including hyperlinks to the Consultation Conclusions and the related news release, on the issues described above ( http://www.hkex.com.hk/news/hkexnews/081230news.htm ).

For further information, please contact:

Patrick Wong ( )
Derek Tsang ( )
Jacqueline Chiu ( )
Jeckle Chiu ( )
 
Learn more about our Hong Kong office and Corporate Finance practice.

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