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ACE MARKET LISTING REQUIREMENTS
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MAIN MARKET LISTING REQUIREMENTS
FAQ 8.29
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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
GN3 Companies
8.29
Paragraph 2.1(e) of Guidance Note 3 sets out a criterion of a winding up of the listed corporation's subsidiary or associated company which accounts for at least 50% of the total assets employed of the listed corporation on a consolidated basis ("Criterion 2.1(e)").
(a)
If a winding-up order has been made against such subsidiary or associated company of a listed corporation but the winding-up order is either stayed or under appeal, will the listed corporation still be classified as a GN3 Company?
Yes, a stay order only has the effect of suspending the operation of the winding-up order. It does not change the fact that Criterion 2.1(e) has been triggered. Thus the classification as a GN3 Company will take effect. Similarly, if the winding-up order is pending appeal, the listed corporation will nonetheless be classified as a GN3 Company, pending the outcome of the appeal.
(b)
Will a winding-up order against a listed corporation, instead of such subsidiary or associated company of a listed corporation, trigger Criterion 2.1(e)?
No. However, pursuant to Rule 16.11(2)(d) of the ACE LR, Bursa Securities shall de-list a listed corporation where a winding up order has been made against the listed corporation itself.