​Electronic payment of cash distributions

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8.44

Must a listed issuer amend its articles of association to allow for payment of cash dividends electronically to its shareholders pursuant to paragraph 8.26A of the Main LR?

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By virtue of paragraph 7.36 of the Main LR, a listed issuer is in a position to pay cash dividends to its shareholders electronically pursuant to paragraph 8.26A of the Main LR regardless of what may be stated in its articles of association in relation to cash dividend payment.

​​Notwithstanding this, to ensure that the listed issuer’s articles of association are updated and comprehensive, it should proceed to amend the relevant provisions in its articles of association that may be inconsistent with the requirements for the listed issuer to pay cash dividends electronically as set out in paragraph 8.26A of the Main LR. An amendment to its articles of association, if required, may be done at the listed issuer’s next annual or extraordinary general meeting.