(1) The Rules seek to secure and maintain confidence in the market. The underlying principles of the Rules include the following:

(a) issuers shall have minimum standards of quality, operations, management experience and expertise;

(b) investors and their professional advisers shall be given all information that they would reasonably require to make an informed assessment of the securities for which listing is sought;

(c) issuers shall disclose information if a reasonable person would expect that information to have a material effect on the price or value of their listed securities;

(d) all holders of listed securities shall be treated fairly and equitably; and

(e) directors of an issuer shall act in the interests of shareholders as a whole.

(2) The Exchange, therefore, in addition to applying the enumerated criteria set forth in Chapter 2, has broad discretionary authority over the initial and continued listing of securities on the Global Listing Board.

(3) The Exchange may use such discretion to deny initial listing, apply additional or more stringent criteria or conditions for the initial or continued listing of particular securities, or suspend or delist particular securities based on any event, condition, or circumstance that exists or occurs that, in the opinion of the Exchange, (a) makes initial or continued listing of the securities on the Global Listing Board inadvisable or unwarranted, or (b) renders such listing not in the public interest, even though the securities meet all enumerated criteria for initial or continued listing on the Global Listing Board. Further details are set out in Practice Note 1.1.