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1.0 | Introduction |
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1.1 | Pursuant to paragraph 16.04 of the Listing Requirements, a trading halt may be imposed on the listed issuer's securities by the Exchange upon release of a material announcement by the listed issuer before or during trading hours. |
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1.2 | The purpose of trading halt is to enable dissemination of the material information disclosed and facilitate the evaluation of such information. |
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1.3 | This Practice Note sets out the following: |
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| (a) | the types of material announcements which may warrant trading halt; and |
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| (b) | the periods of trading halt. |
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1.4 | Nothing in this Practice Note will be read to restrict the powers of the Exchange to suspend the trading of the listed issuer's securities pursuant to paragraph 16.02 of the Listing Requirements. |
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2.0 | Material announcement which may warrant trading halt |
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2.1 | For the purpose of paragraph 16.04 of the Listing Requirements, an announcement relating to any of the following matters will be regarded as a material announcement: |
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| (a) | an interim financial reports; |
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| (b) | a bonus issue or other fund raising exercise; |
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| (c) | a subdivision of shares or consolidation by the listed issuer; |
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| (d) | a transaction requiring an announcement to be made under Chapter 10 of the Listing Requirements; |
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| (e) | a declaration of a dividend or distribution; |
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| (f) | a change in the controlling shareholder or controlling unit holder of the listed issuer; |
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| (g) | a notice of take-over being served on a listed issuer; |
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| (h) | commencement of winding-up proceedings against the listed issuer or any of its subsidiaries or major associated companies as announced under paragraph 9.19(19) of the Listing Requirements; |
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| (i) | rejection of the corporate proposals previously announced by the shareholders or regulatory authorities; |
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| (j) | the prospects, revenue or profit estimate, forecast, projection or internal targets of the listed issuer and any circumstances or development which are likely to materially affect the results or outcome of the same; |
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| (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 |
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| (l) | any other announcements which the Exchange considers material pursuant to paragraph 9.03(2) of the Listing Requirements. |
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3.0 | Periods of trading halt |
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3.1 | Where 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: |