Listings
On-Going Announcement Requirements For Listed Companies
Listed mineral companies are bound by the provisions of the HKEX Listing Rules which impose an obligation on issuers to publish announcements in a wide range of situations. Issuers are required to publish announcements electronically on the HKEX’s website through its e-submission system and on their own websites. Listed mineral companies are additionally bound by the provisions of Chapter 18 of the HKEX Listing Rules.
Pursuant to HKEX Listing Rules (Listing Rule 13.09), an issuer has a general obligation of disclosure where in the view of the HKEX there is or there is likely to be a false market in an issuer’s securities, the issuer must, as soon as reasonably practicable after consultation with the HKEX, announce the information necessary to avoid a false market in its securities. This general obligation of disclosure exists whether or not the HKEX makes enquiries pursuant to HKEX Listing Rule 13.10. In addition, if an issuer believes that there is likely to be a false market in its listed securities, it must contact the HKEX as soon as reasonably practicable.
Additionally, where an issuer is required to disclose information under the inside information provisions, it must simultaneously announce the information. Where any application for waiver from disclosure under the inside information provisions is made, the issuer must copy the HKEX on its application and upon being notified by the Securities and Futures Commission of its decision.
Additional details in relation to disclosure obligations can be found here.
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