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[ As at 8 May 2009 ]  


DetailsCross Reference
Effective date:3 September 2007Rule 16.04
​Revision date:3 August 2009


​1.0​​ ​Introduction
​1.1Pursuant to Rule 16.04 of the Listing Requirements, a trading halt may be imposed on the listed corporation’s securities by the Exchange upon release of a material announcement by the listed corporation before or during trading hours.
​1.2The purpose of trading halt is to enable dissemination of the material information disclosed and facilitate the evaluation of such information.
​1.3This Guidance Note sets out the following:
​(a)the types of material announcements which may warrant trading halt; and
​(b)the periods of trading halt.
​1.4​​Nothing in this Guidance Note will be read to restrict the powers of the Exchange to suspend the trading of the listed corporation’s securities pursuant to Rule 16.02 of the Listing Requirements. 
2.0Material announcement which may warrant trading halt
​2.1For the purpose of Rule 16.04 of the Listing Requirements, an announcement relating to any of the following matters will be regarded as a material announcement:
​(a)an interim financial report;
​(b)a bonus issue or other fund raising exercise;
​(c)a subdivision of shares or consolidation by the listed corporation;
​(d)a transaction requiring an announcement to be made under Chapter 10 of the Listing Requirements;
​(e)a declaration of a dividend or distribution;
​(f)a change in the controlling shareholder of the listed corporation;
​(g)a notice of take-over being served on a listed corporation;
​(h)commencement of winding-up proceedings against the listed corporation or any of its subsidiaries or major associated companies;
​(i)rejection of the corporate proposals previously announced by the shareholders or regulatory authorities;
​(j)the prospects, revenue or profit estimate, forecast, projection or internal targets of the listed corporation and any circumstances or development which are likely to materially affect the results or outcome of the same;
​(k)any clarifying announcement pursuant to Chapter 9 of the Listing Requirements including the response to a rumour or report or unusual market activity; or
​(l)any other announcements which the Exchange considers material pursuant to Rule 9.03(2) of the Listing Requirements.
​3.0Periods of trading halt
​3.1Where the material announcement is released during trading hours, the trading halt imposed by the Exchange will be for 1 hour or until the end of that trading session, whichever is the earlier. The periods of trading halt that may be imposed by the Exchange are as follows:


Time for Release of Material Announcement​Trading Halt Period
​(i)Before the commencement of trading at 9.00 a.m.9.00 a.m. to 10.00 a.m
​(ii)9.00 a.m. to 11.00 a.m.1 hour from the time the material announcement is released
​(iii)After 11.00 a.m. and before 12.30 p.m.

​From the time the material announcement is realeased until 12.30


​(iv)12.30 p.m. until 1.30 p.m.​No trading halt will be imposed
​(v)After 1.30 p.m. until 2.30 p.m.​2.30 p.m. to 3.30 p.m.
​(vi)After 2.30 p.m. until 3.30 p.m.​1 hour from the time the material announcement is released
​(vii)After 3.30 p.m. and before 5.00 p.m.

From the time the material announcement is released until

 5.00 p.m.

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​3.2​​Notwithstanding paragraph 3.1, the Exchange may, at its discretion, suspend the trading of the listed corporation’s securities for the entire day or such period as the Exchange deems it appropriate.

For the avoidance of doubt, the periods of trading halt as stated in this Guidance Note are not applicable to the securities of a listed corporation suspended pursuant to a request for suspension under Rule 16.03 of the Listing Requirements and Guidance Note 12. Hence, the securities of a listed corporation which are suspended will not be requoted on the same day of the release of the relevant announcement.

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