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ASX Listed Entities Update

19 November 2013 Update no 08/13
1. Mining and oil and gas – commencement of new listing rules
Listed entities are reminded that the new ASX Listing Rules for mining and oil and gas reporting commence on 1 December 2013. The rules can be found on the Compliance Downloads page: http://www.asx.com.au/regulation/compliance/compliance-downloads.htm

From 1 December the new rules will be available under the ASX Listing Rules section of the ASX website: http://www.asx.com.au/regulation/rules/asx-listing-rules.htm

The Compliance downloads page has other helpful information about the new reporting rules, including podcasts of, and copies of the presentation slides from, the mining and oil and gas roadshow presentations earlier this year. It also has a link to answers to frequently asked questions covering the transition to the new reporting regime, competent persons, exploration targets and production targets.

All mining and oil and gas entities should ensure that they are familiar with the new rules, including the transition process for material projects that were first publicly reported before 1 December 2013 under the old rules.

2. DRP Election date consultation
On Monday 4 November ASX released a consultation paper on the last election date for Dividend Reinvestment Plans (DRPs). ASX proposes to amend the timetable for dividends in Appendix 6A of the Listing Rules to introduce a requirement that the last election date for a DRP must be no earlier than the business day following the record date for the dividend. ASX considers that the proposed amendment is necessary in the context of:
  • the reduction in the ex-period from 5 business days to 3 business days across most corporate actions with an ex-period, including dividends, which is being implemented as a key element in the initiative to reduce the standard timetable for rights issues; and
  • the current practice of a large number of listed entities setting the last election date for DRPs on the same day as the record date. In this regard, ASX received feedback in the consultation process for reducing the timetables for rights issues on its proposal to implement the 3 business day ex-period, which indicated that maintaining this practice within the shortened ex-period would adversely impact custodians and their clients (particularly institutional investors) participating in DRPs.
Subject to receiving regulatory approval, ASX proposes to introduce the new requirement for the last election date for DRPs on 14 April 2014, together with the reduced timetables for rights issues. The consultation is open until Friday 29 November 2013.

ASX encourages all listed entities to review their DRPs and/or standard practice concerning the setting of the last election date to consider the impact of the new election date rule and the required timing of any necessary changes should the rule be introduced as proposed.

Both the above documents are accessible from the public consultations page of the ASX website.

3. ASX Online – email notification feature
In Listed Entity Update 04/13 released 22 July 2013, ASX advised that ASX Online Companies has been enhanced to allow a listed entity to include email addresses for external groups or individuals. This enhancement means that when an announcement has been released, those external parties included receive the same email acknowledgment as ASX Online Companies users for your listed entity, without having to be ASX Online Companies users. In response to enquiries from listed entities, ASX is providing the following further information about the enhancement.

A maximum of thirty individual email addresses may be added. Should a user choose, the email address can be a distribution list email, such as committee@company.com. Any distribution list and its email address would need to be set up within the email system of the company that is adding it. It is not possible to create a separate distribution list within the external notification screen – only email addresses can be added. So a distribution list within Microsoft Outlook, for example, cannot be used as it is not a single email address. Users should consult their technology providers or support team if further information is required.

4. ASX Group website
The ASX Group website, which had considerable information about the ASX Group and its regulatory framework, has been migrated across and integrated into the ASX website www.asx.com.au. This will make it easier for users to find all the latest ASX news and information on the one website. The enhanced 'search' function on the ASX website will also assist in this regard.

The majority of information from the ASX Group site now sits under the "About ASX" and "Regulation" tabs on the home page of asx.com.au.

Pages of particular interest to listed entities include:

Rules: http://www.asx.com.au/regulation/rules-guidance-notes-and-waivers.htm

Compliance downloads: http://www.asx.com.au/regulation/compliance/compliance-downloads.htm

Listed entities updates: http://www.asx.com.au/regulation/compliance/listed-entities-updates.htm

If you try to visit the ASX Group website through your bookmarks or favourites, where possible, we will endeavour to re-direct you to the correct page on the ASX website.

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