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Listed Entities Update 31 August 2011 Update no 06/11
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Companies Homepage

Companies Update 01/11

Final Exposure Draft for Amendments
(PDF 127 KB)

ASX IR Intelligence
(PDF 247 KB)

Listing Rule 15.1
(PDF 97 KB)

ASIC Information Release on 10 August 2011

Listing Rule 14.2.3A
(PDF 98 KB)

Listing Rule 14.2.3B
(PDF 98 KB)

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Important information for ASX Listed Entities
1.  Release of Exposure Draft: Listing Rule amendments and timetables for accelerated pro rata rights issues; and changes to terminology regarding issue of securities

As notified in Companies Update 01/11 in January 2011, ASX released a Consultation Paper and Exposure Draft in relation to proposed listing rule amendments and timetables for accelerated rights issues (commonly known as "Jumbos", "AREOs", "SAREOs", or "RAPIDS").

Following that consultation, a final Exposure Draft for these amendments (PDF 571 KB) has been released and is available on ASX's website.

ASX is also proposing in this Exposure Draft amendments to the Listing Rules, Operating Rules, and Settlement Rules, in relation to the terms used about the issue of securities.  It is proposed that the words 'despatch' and 'allot' will be replaced with the word 'issue'.

Comments are requested to be forwarded to the Regulatory and Public Policy Unit by Friday 9 September 2011.

2.  ASX IR Intelligence

ASX IR Intelligence is a new investor relations initiative between ASX and Orient Capital.  The first tool available through ASX IR Intelligence is a module called miraqle shares.  Available at no cost to ASX listed entities, miraqle shares is an online equity market intelligence tool that is available through Orient Capital's miraqle platform. Drawing data feeds directly from the ASX, miraqle shares provides listed entities with the ability to view, analyse, compare and download market data on the trading activity of individual stocks, sectors and indices.  Listed entities can view price, volume, broker trading activity and ASX company announcements for every ASX listed entity.  It allows listed entities to compare their performance against peers or indices and package the information into a board report through the reporting module called sharepac.  To date over 1,100 ASX listed entities have registered to access miraqle shares.

Further information about the initiative can be viewed at www.asx.com.au/irintelligence

To register your listed entity and receive your free login details, please visit
http://miraqleshares.orientcap.com/registration/.

3. Annual General Meeting season – ASX review of draft notices of AGM

Listed entities must hold their AGMs within 5 months of their financial year end.  More than 80% of ASX's listed entities have a balance date of 30 June.  Under listing rule 15.1.7, draft notices of general meeting that contain resolutions for Listing Rules purposes must be submitted to ASX for review before they are sent to securityholders.

Listing rule 15.1 (PDF 97 KB) provides that ASX may take 5 business days to advise whether it objects to a draft document, and may extend the time that it needs to review the document.  ASX asks listed entities to bear these timing requirements in mind when they are scheduling their AGMs and drafting their notices of meeting, and to submit their draft notices of meeting in sufficient time for ASX to review them.  This is particularly important if there are a number of resolutions or complex transactions that are to be considered, or if the entity will require waivers from any listing rules in connection with its notice of AGM.

4. Annual General Meeting season – s. 250R(4) Corporations Act

ASIC on 10 August 2011 released an information release about how listed entities can comply with the new rules on the voting by chairpersons of undirected proxies in relation to resolutions on the remuneration report
.

The proxy form accompanying a notice of general meeting must also comply with listing rules 14.2.3A (PDF 98 KB) and 14.2.3B (PDF 98 KB) in relation to the chairperson voting undirected proxies on a listing rule resolution in which the chairperson has an interest.  Listed entities may wish to consult their legal advisers about the correct drafting of proxy forms to accompany their notices of AGM this year so that they comply with all applicable requirements.

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