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ASX Listed Entities Update

6 September 2013 Update no 05/13
Corporate Governance Consultation Packages
On 16 August 2013 the ASX Corporate Governance Council announced that it would be consulting on a proposed third edition of its Corporate Governance Principles and Recommendations. ASX also announced that it would be consulting on Listing Rule and Guidance Note changes to complement and give effect to the reforms proposed by the Council in the third edition of the Principles and Recommendations.

The Council's consultation package includes:
  • a consultation paper entitled Review of the Corporate Governance Principles and Recommendations;
  • a draft of the proposed third edition of the Principles and Recommendations;
  • a copy of the current edition of the Principles and Recommendations for comparison; and
  • translation tables showing the linkages between the proposed new recommendations in the third edition and the existing recommendations in the current edition, and vice versa.
ASX's consultation package includes:
  • a consultation paper entitled Proposed Changes to ASX Listing Rules and Guidance Note 9;
  • a document entitled Proposed Governance-Related Amendments to the ASX Listing Rules, which sets out in mark-up the proposed amendments to ASX's Listing Rules and describes in detail the purpose of the amendments; and
  • a marked-up version of the proposed changes to Guidance Note 9.

It is proposed that the new edition of the Corporate Governance Principles and Recommendations and related Listing Rule and Guidance Note changes will come into effect on 1 July 2014.

ASX is also taking the opportunity to make a number of other minor governance-related changes to its Listing Rules and to introduce a new Listing Rule 3.19B. This will require the disclosure of on-market purchases of securities on behalf of employees or directors or their related parties under an employee incentive scheme. These changes are proposed to come into effect on 1 January 2014.

The Council and ASX welcome submissions from all interested parties on the proposed changes. The consultation period is open until Friday, 15 November 2013. Parties may, if they wish, make a single submission responding to both the Council's and ASX's consultation papers.

ASX will be conducting a national road show during September 2013 to inform and seek feedback from listed entities and other interested stakeholders about the proposed changes to the Corporate Governance Principles and Recommendations, the ASX Listing Rules and Guidance Note 9. The details and links to registration web pages are set out below.

Register
for:
On:
.
At:
.
Venue:
.
Brisbane
Monday, 16 Sept 2013
9.00-10.30 am
Pullman Hotel, cnr Ann and Roma Streets
Melbourne
Wednesday, 18 Sept 2013
9.00-10.30 am
RACV Club, Level 2, 501 Bourke Street
Adelaide
Thursday, 19 Sept 2013
9.00-10.30 am
Adelaide Convention Centre, North Terrace
Sydney
Friday, 20 Sept 2013
9.00-10.30 am
ASX Auditorium, 20 Bridge Street
Perth
.
Thursday, 26 Sept 2013
.
4.00-5.30 pm
.
Perth Convention Centre, 21 Mounts Bay Road
Mining and oil and gas reporting

The following materials are now available on the ASX Compliance 'Downloads' page on the ASX website under the heading "Reserves and Resources Reporting Requirements" (this page can be accessed from the "ASX Compliance" sub-menu at the bottom of the ASX home page www.asx.com.au).
  • the ASX Listing Rules on reserves and resources reporting for mining and oil and gas, which commence on 1 December 2013, together with the relevant guidance notes;
  • a podcast of the presentations given by ASX, JORC and ASIC at the April national mining reporting road shows;
  • a collection of frequently asked questions and answers on the ASX Listing Rules on mining reporting and the JORC Code 2012; and
  • pro forma competent person statements for the JORC Code 2004 and the JORC Code 2012.
ASX is also preparing a collection of frequently asked questions and answers on the ASX Listing Rules on oil and gas reporting (including information on the professional bodies who meet the definition of a Qualified Petroleum Reserves and Resources Estimator under the ASX Listing Rules) and a podcast of the presentations given by ASX and RISC at the July national oil and gas reporting road shows.

The Society of Petroleum Engineer (SPE) will be running workshops on the PRMS in Brisbane in November 2013. Further information can be obtained from the SPE website.

ASX Market Announcements matters - Daylight Saving

Daylight saving commences in New South Wales, the Australian Capital Territory, Victoria, Tasmania and South Australia at 2 a.m. EST on Sunday 6 October 2013, and will end at 3.00 a.m. on Sunday 6 April 2014. Daylight saving is not observed in Queensland, Western Australia or the Northern Territory.

Because WA will be 3 hours behind Sydney time during daylight saving, ASX Market Announcements will stay open until 8.30 p.m. Sydney time (5.30 p.m. WST) starting on Monday 7 October 2013.

ASX Market Announcements will revert to its usual 7.30 pm Sydney time closing time when daylight saving has ended. A Listed Entities Update reminding companies of the change will be released closer to that time.

Investor relations briefings

After a successful round of briefings in May, the ASX, in partnership with the Australasian Investor Relations Association (AIRA), is holding another series of free investor relations briefings in September 2013, with a new set of topics. The briefings mainly target senior executives (CEOs, CFOs) of ASX-listed companies outside the S&P/ASX 200. Further details can be viewed at www.asx.com.au/aira and www.aira.org.au.

ASX and AIRA are also holding a roundtable luncheon for senior executives from companies in the S&P/ASX 200 in Melbourne on 17 October 2013. A similar event was previously held in Sydney on 10 July 2013. Further details about the luncheon are available at www.aira.org.au.