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ACE MARKET LISTING REQUIREMENTS
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MAIN MARKET LISTING REQUIREMENTS
FAQ 6.30
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ACE MARKET LISTING REQUIREMENTS
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TABLE OF CONTENTS
CHAPTER 1 - DEFINITIONS AND INTERPRETATION
CHAPTER 2 - GENERAL
APPENDIX 2A
APPENDIX 2B
CHAPTER 3 - ADMISSION
CHAPTER 4 - SPONSORS
CHAPTER 5 - FOREIGN LISTING
CHAPTER 6 - NEW ISSUES OF SECURITIES
APPENDIX 6A
APPENDIX 6B
APPENDIX 6C
APPENDIX 6D
APPENDIX 6E
APPENDIX 6F
CHAPTER 7 - ARTICLES OF ASSOCIATION
CHAPTER 8 - CONTINUING LISTING OPBLIGATIONS
APPENDIX 8A
APPENDIX 8B
APPENDIX 8C
APPENDIX 8D
APPENDIX 8E
CHAPTER 9 - DISCLOSURE OBLIGATION
APPENDIX 9A
APPENDIX 9B
APPENDIX 9C
CHAPTER 10 - TRANSACTIONS
APPENDIX 10A
APPENDIX 10B
APPENDIX 10C
APPENDIX 10D
CHAPTER 11 - TAKE-OVERS & MERGERS
CHAPTER 12 - SHARE BUY-BACKS
APPENDIX 12A
APPENDIX 12B
APPENDIX 12C
APPENDIX 12D
CHAPTER 13 - ARRANGEMENTS AND RECONSTRUCTIONS
APPENDIX 13A
APPENDIX 13B
APPENDIX 13C
APPENDIX 13D
APPENDIX 13E
APPENDIX 13F
CHAPTER 14 - DEALINGS IN LISTED SECURITIES
CHAPTER 15 - CORPORATE GOVERNANCE
CHAPTER 16 - SUSPENSION, DE-LISTING AND ENFORCEMENT
APPENDIX 16A
Guidance Note 1
Guidance Note 2
Guidance Note 3
Guidance Note 4
Guidance Note 5
Guidance Note 6
Guidance Note 7
Guidance Note 8
Guidance Note 9
Guidance Note 10
Guidance Note 11
Guidance Note 12
Guidance Note 13
Guidance Note 14
Guidance Note 15
Guidance Note 16
Guidance Note 17
Guidance Note 18
Guidance Note 19
Guidance Note 20
Guidance Note 21
Guidance Note 22
Page Content
Requirements in relation to bonus issue
6.30
What are the circumstances where the listed corporation, or the external auditors/reporting accountants, is required to provide confirmations that the available reserves for capitalization are adequate to cover the entire bonus issue under Rule 6.31(3)
4
of the ACE LR and paragraph 1(dA) in Part B, Annexure GN17-B
5
of Guidance Note 17?
The following table clarifies the obligations of the listed corporation and the external auditors/reporting accountants in providing the relevant confirmations required for purposes of complying with Rule 6.31(3) of the ACE LR and paragraph 1(dA) in Part B, Annexure GN17-B of Guidance Note 17:
4
Rule 6.31(3) stipulates that a listed corporation must ensure that the available reserves for capitalisation are adequate to cover the entire bonus issue of securities. If the reserves for capitalisation are not based on the annual audited financial statements of the listed corporation, such reserves must be verified and confirmed by the external auditors or reporting accountants of the listed corporation. Where a confirmation by the external auditors or reporting accountants is required, the reserves for capitalisation, which may be adjusted for subsequent events, must be based on the latest audited financial statements or the latest quarterly report, whichever is the later.
5
Paragraph 1(dA) of Part B, Annexure GN17-B provides that a listed corporation must file the following documents in support of the listing application for a bonus issue:
(a)
confirmation from the listed corporation on the adequacy of the reserves for capitalization; and
(b)
where the confirmation from the external auditors or reporting accountants is required, the report from the external auditors or reporting accountants.