Rulebooks: Contents

Rulebooks
Mainboard Rules
Definitions and Interpretation
Chapter 1 Introduction
Chapter 2 Equity Securities
Chapter 3 Debt Securities
Chapter 4 Investment Funds
Chapter 5 Structured Warrants
Chapter 6 Prospectus, Offering Memorandum and Introductory Document
Chapter 7 Continuing Obligations
Chapter 8 Changes in Capital
Chapter 9 Interested Person Transactions
Chapter 10 Acquisitions and Realisations
Chapter 11 Takeovers
Chapter 12 Circulars, Annual Reports and Electronic Communications
Chapter 13 Trading Halt, Suspension and Delisting
Chapter 14 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange
Appendices
Practice Notes
Transitional Practice Note 1 Transitional Arrangements Regarding Continuing Listing Rules
Report of the Committee and Code of Corporate Governance
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
DVP Rules
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Rule Amendments

  Versions
(2 versions)
 
Up to Sep 28 2011Sep 29 2011 onwards

Transitional Practice Note 1 Transitional Arrangements Regarding Continuing Listing Rules

Details Cross References
Issue date: 14 June 2002

Effective date: 1 July 2002
Listing Rule 109(2)

1. Introduction

1.1. On 10 May 2002 the Exchange published the New SGX-ST Listing Manual. It will take effect on 1 July 2002. Listing Rule 109(2) of the New Listing Manual says:

"The Exchange may, from time to time, publish transitional arrangements in relation to any amended or new rule."
1.2. This Practice Note is published to establish transitional arrangements that will have effect under Listing Rule 109(2).

2. Arrangements

To allow for a smooth transition to the New SGX-ST Listing Manual, the following transitional arrangements will be adopted:—

Listing Rule Subject Transitional Arrangement
229 Moratorium The Exchange will allow moratorium provisions to comply with Rule 229 where the prospectus is issued on or after 1 July 2002 even though approval in-principle has been granted under the current rules.
705 Financial Statements Results released after 1 July 2002 must use the new reporting template set out in Appendix 7.2. Issuers, whose compilation of accounts were in progress at the time the New Listing Manual was issued, may complete their compilation of accounts in the reporting template set out in the current rules so long as the accounts are released before 1 July 2002. Individual hardship cases could be considered for waiver but would need exceptional circumstances.
806(3) Method of Calculation — Percentage of
Issued Share
Capital in connection with the Share Issue
Mandate
For the purposes of listing of new shares issued on or after 1 July 2002 under a share issue mandate, the Exchange will regard the maximum number of shares that may be issued under the mandate in accordance with this rule.

This is regardless of when issuers obtained their share issue mandate, and regardless of whether the share issue mandate would permit more shares to be issued.

As the method of calculation changes from 1 July 2002 (from previous practice), shares issued before 1 July 2002 in accordance with the mandate will not be regarded as being in breach of this rule after 1 July 2002 by reason only of a change in method of calculation.
838 Ex-Bonus Share Price This requirement applies to bonus issues to be completed on or after 1 July 2002 regardless of when they were announced.
884(2) Average Market Price for Share Buy-Back This requirement applies to all shares bought back on or after 1 July 2002 regardless of when the share buy-back mandate was first implemented and notwithstanding that the shareholders' resolution may permit an average market price under current rules.
905(2) Interested Person
Transaction — Aggregation for Announcement
For the purposes of this rule, from 1 July 2002, an issuer must aggregate any transaction with the same interested person in the current financial year regardless of whether it occurs before or after 1 July 2002.
906(1)(b) read with 921(4)(a) Interested Person
Transaction
— Aggregation for Shareholder Approval
For the purposes of this rule, from 1 July 2002, an issuer must aggregate any transaction with the same interested person in the current financial year regardless of whether it occurs before or after 1 July 2002. However, a transaction (whether it occurs before or after 1 July 2002) which has been approved by shareholders need not be included in the aggregation.
921(4)(a) Interested Person Transaction — IFA's Opinion This rule will apply to transactions that occur on or after 1 July 2002.
907 read with 920(1)(a)(i) Interested Person Transaction — Annual Report Disclosure For any interested person transaction conducted before 1 July 2002, issuers need only comply with the disclosure required in Column 3 of the table set out in this rule although they are encouraged to include such information in Columns 1 and 2 as they have access to. Any interested person transaction conducted after 1 July 2002 will need to be disclosed in accordance with this rule. These arrangements apply irrespective of the date of the financial year-end.
920(1) (b) Interested Person Transaction Mandate — Information in
Documents to
Shareholders
The current rules will continue to apply for IPT mandates approved by shareholders in general meetings that are held before 1 September 2002.

Rule 920(1)(b) will apply to any mandate, whether by renewal or otherwise, approved by shareholders in general meetings that are held on or after 1 September 2002. The information can be included in the notice of meeting or the annual report or as a separate circular as the issuer chooses.
920(2) Interested Person Transaction Mandate — IPO Prospectuses Current practice is to treat the inclusion in a prospectus of the information in current Clause 9A10(2)(b) as sufficient for shareholder approval in a new listing. This practice will continue for prospectuses lodged with the Registrar of Companies and Businesses before 1 July 2002. The information required in Rule 920(1)(b) is required in any prospectus lodged with the Authority on or after 1 July 2002 if the issuer wants to take advantage of this rule.
1015 Reverse Takeovers Up until 1 July 2002, the Exchange will consider granting waivers for any reverse takeover if it can be established that the circumstances justify not complying with this rule, such as by reason of a substantial amount of work having been done before the New Listing Manual was published on 10 May 2002. No waiver will be granted after 1 July 2002.
1304 (1) Suspension The 12-month period (for submission, or if previously submitted for implementation of proposal(s)) commences on 1 July 2002.
4. Circulars and documents for shareholder approval after 1 July 2002, or documents to be sent to shareholders after 1 July 2002, should comply with the New Listing Manual even though they have been lodged with the Exchange for clearance before 1 July 2002.
5. SGX may amend, modify or supplement the above transitional arrangements.

Amended on 29 September 2011.