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Legal Update

Hong Kong Listing Rule Amendment Relating to the Black Out Period Extension

25 February 2009
Mayer Brown JSM Legal Update
As mentioned in our Client Alert of 31 December 2008 (https://www.mayerbrown.com/publications/article.asp?id=5977&nid=11166), the Listing Committee of The Stock Exchange of Hong Kong Limited had decided to defer the implementation of the Hong Kong Listing Rule amendment regarding extension of the black out period to 1 April 2009 . 
 
On 12 February 2009, the Listing Committee announced, among other things, its proposed modification of the black out period extension. On 24 February 2009, the Stock Exchange received approval from the Board of the Securities and Futures Commission of Hong Kong to implement such modification.  
 
Hong Kong Listing Rule amendment
 
The Hong Kong Listing Rule amendment extends the black out period applicable to the publication of a listed issuer’s annual financial results from one month to 60 days. The black out periods for half-year and other interim periods will continue to be 30 days, in line with the current one-month requirement. Furthermore, the amendment imposes a new obligation on listed issuers to notify the Hong Kong Stock Exchange in advance of the commencement of any black out period. 
 
The Hong Kong Listing Rule amendment will come into effect on 1 April 2009 and will replace the relevant Hong Kong Listing Rule amendment announced on 28 November 2008.
 
Please refer to the following hyperlinks for more details:
For further information, please contact:
 
 
Learn more about our Hong Kong office and Corporate Finance practice.

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