Periodic disclosures – annual report
9.38
What is the definition of “conflict of interest” as stated in item (3)(g) of Appendix 9C?
“Conflict of interest” for the purposes of item (3)(g) of Appendix 9C, refers to a situation where the director concerned has personal pecuniary interests which are in conflict with those of the listed corporation or its subsidiaries. It excludes transactions entered into by a listed corporation or its subsidiaries involving the interest of the director concerned which are regarded as related party transactions pursuant to Chapter 10 of the ACE LR.
The following are illustrations. A sale of property by the listed corporation to a corporation owned by the director would be a related party transaction which does not require disclosure pursuant to item (3)(g) of Appendix 9C. If the director is a major shareholder of another corporation which is the competitor of one of the subsidiaries of the listed corporation, such information must be disclosed pursuant to item (3)(g) of Appendix 9C.