Important information for ASX Listed Entities

Trading hours and Company Announcement Office (CAO) hours over the Christmas and New Year holidays
The early closing times for ITS and CAO on the trading days preceding Christmas Day and New Year's Day have been announced. Normal trading will cease at 2.00 pm AEDT on each of Thursday 24 December 2009 and Thursday 31 December 2009. A summary of the trading schedule on those dates is set out in ITS Circular 2009/028 (PDF 33KB).

Market Control will be closed from 3.30 pm AEDT on each of these days.

CAO will be closed from 4.30 pm AEDT on each of these days.

ASX Corporate Governance Council recommendations on diversity policies
On 7 December 2009, the ASX Corporate Governance Council released a Recent Work Programme Communique that outlined, amongst other things, a proposal to expand the Corporate Governance Principles and Recommendations to require that each listed entity - on an "if not, why not" basis - adopt and disclose a diversity policy that includes measurable objectives relating to gender.

The communique also outlines proposals to:

• change the guidance accompanying Principle 6 to improve the record keeping of analysts' briefings; and
• elevate the suggested composition of remuneration committees in the commentary to Recommendation 8.1 to an "if not, why not" recommendation.

The ASX Corporate Governance Council expects to provide an exposure draft for public consultation in early 2010. The anticipated implementation date is the financial year commencing 1 July 2010.

The communique and accompanying media release (PDF 64KB) are available on asx.com.au.

ASX releases consultation paper on proposed Listing Rule amendments for company trading policies
On 4 December 2009, ASX released a public consultation paper on a proposal that the Listing Rules be amended to include mandatory requirements about listed entities' securities trading policies. At present, it is a recommendation of the Corporate Governance Council that a listed entity have a trading policy on dealings in the entity's securities by directors, senior executives and employees. CAMAC's report "Aspects of Market Integrity" recommended that ASX consider introducing listing rules on blackout trading.

ASX's public consultation paper suggests the adoption of listing rules that will make it compulsory for listed entities to:

• adopt and disclose a trading policy on trading in entity securities by directors and other key management personnel;
• include restrictions and clearance procedures in the policy as to when trading can and cannot occur; and
• publicly disclose whether any trading by directors occurred during an otherwise restricted period under the company trading policy

The public consultation paper is available from What's New on asx.com.au.

Comments are sought by 26 February 2010.