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ASX Listed Entities Update
 
ASX Listed Entities Update
 
1 May 2013 Update no 02/13
 
Listing Rule Amendments
1. REVISED GUIDANCE NOTE 8 AND DISCLOSURE-RELATED LISTING RULE AMENDMENTS COME INTO EFFECT

As foreshadowed in Listed Entities Update 01/13, the revised version of: and a package of disclosure - related Listing Rule amendments were published and came into effect on
1 May 2013.

Since releasing the final versions of these materials on 13 March 2013, ASX has conducted a national roadshow to explain the changes made to the consultation versions of Guidance Note 8 and the disclosure-related Listing Rule amendments.

ASX has received a number of queries about the application of listing rule 3.16.4. Under this rule, a listed entity is obliged to tell ASX immediately:
  • the material terms of an employment, service, or consultancy agreement that a listed entity or related entity enters into with a chief executive officer, director, and any other person who is a related party of the chief executive officer or a director, and;
  • any material variation to such an agreement.
The application of this rule is not retrospective. Listed entities are not required to disclose such agreements, or material variations to them, if they were entered into before 1 May 2013. It is only agreements or material variations to agreements entered into on or after 1 May 2013 that need to be disclosed to ASX under rule 3.16.4.

Final versions of the following chapters of the Listing Rules and Appendices incorporating the disclosure-related amendments have been published. Other Guidance Note updates

In addition to the materials mentioned above, updated versions of the following Listing Rule Guidance Notes came into effect on 1 May 2013: These Guidance Notes have been updated to be consistent with the new version of Guidance Note 8 and the disclosure-related Listing Rule changes.

Links to marked up versions of the amended rules and the consultation materials were included in
Listed Entities Update 01/13.

2. SINGLE STOCK ETO EXPIRY DAY - PROCEDURES IN THE EVENT OF MARKET INTERRUPTIONS

ASX advises listed entities that ASX Circular No. 096/13 dated 26 February 2013 highlighted new operational procedures for a trading platform-related market interruption on ETO expiry day that ASX will apply from 1 September 2013.

In the event of a market outage on ETO expiry day, ASX will facilitate extended trading hours for all products quoted on ASX Trade up to 6.00 pm where such action is deemed appropriate in the interests of an orderly market.

ASX will provide listed entities with further updates closer to the effective date of 1 September 2013 about how these operational procedures will work in the event of such an outage, including any communication to listed entities.