| 03/2005 (02/2020) |
RL4-05 |
A GEM listing application raising concerns on consistency and reliability of information submitted to the Listing Division |
GEM Rule 11.01 |
Rejection Letter |
New Applicants |
| 03/2005 (02/2020) |
RL6-05 |
A Main Board listing applicant failing to (a) satisfy the minimum requirement of 300 shareholders as at the date of listing as required under Rule 8.08(2); and (b) meet the expected market capitalization at the time of listing of at least HK$200 million as required under Rule 8.09(2) |
Rules 8.08 (2), 8.09 (2) |
Rejection Letter |
New Applicants |
| 07/2007 (02/2020) |
RL22-07 |
Letter 1 - The Listing Division rejected the listing application of the Company for the reason that the Company has not complied with the Listing Committee's requirement of increasing the shareholders' approval threshold for delisting and privatisation through scheme of arrangement or capitalisation to above the current minimum requirements. Letter 2 - The Listing Committee decided to overturn the decision of the Listing Division, subject to certain specified conditions. |
Rule 2.04 |
Rejection Letter |
New Applicants |
| 12/2004 (04/2019) |
RL3-04 |
A Main Board listing applicant failing to satisfy the profit requirements of Rule 8.05 |
Rule 8.05 |
Rejection Letter |
New Applicants |
| 03/2005 (04/2019) |
RL9-05 |
A Main Board listing applicant failing to satisfy the profit requirement of Rule 8.05 |
Rule 8.05 |
Rejection Letter |
New Applicants |
| 04/2006 (04/2019) |
RL14-06 |
Letter 1 - The Listing Division rejected the listing application of the Company for the reason that the Company was not able to satisfy the minimum profit requirement under Listing Rule 8.05(1)(a) after excluding: (i) the results of the Group's associated companies, (ii) the results of the Group's jointly controlled entities and (iii) deemed gain on dilution of the Group's investment in an associate. Letter 2: The Listing Committee upheld the rejection decision of the Listing Committee on review. |
Rule 8.05(1)(a) |
Rejection Letter |
New Applicants |
| 02/2006 (04/2019) |
RL10-06 |
A Main Board applicant failing to satisfy the profit requirements of Listing Rule 8.05(1)(a) |
Rule 8.05(1)(a) |
Rejection Letter |
New Applicants |
| 07/2007 (04/2019) |
RL23-07 |
Letter 1 - The Listing Division rejected the listing application of the Company for the reason that the Company was unable to comply with the minimum profit requirement under Listing Rule 8.05(1)(a) and the suitability requirement under Listing Rule 8.04. Letter 2 - The Listing Committee upheld the rejection decision of the Listing Division. Letter 3 - The Listing (Review) Committee reversed the decision of the Listing Committee, subject to certain specified conditions. |
Rule 8.05(1)(a) |
Rejection Letter |
New Applicants |
| 11/2008 (04/2019) |
RL24-08 |
LETTER 1 - The GEM Listing Approval Group of the Listing Division rejected the listing application of the Company for the reason that the Company was not able to comply with the minimum operating cash flow requirement under GEM Listing Rule 11.12A(1) after excluding an adjustment for a non-cash item in relation to the settlement of certain employment-related expenses directly by the immediate holding company of the Company. LETTER 2 - The GEM Listing Committee upheld the Listing Division's rejection decision. |
GEM Rule 11.12A(1) |
Rejection Letter |
New Applicants |
| 03/2005 (03/2019) |
RL8-05 |
A GEM listing application failing to satisfy that it had a business of substance and potential for the purposes of GEM Rule 11.12, and that the listing applicant and its business were suitable for listing under GEM Rule 11.06 |
GEM Rules 11.06, 11.12 |
Rejection Letter |
New Applicants |
| 04/2006 (03/2019) |
RL16-06 |
Letter 1 - The Listing Division rejected the listing application of the Company for the reason that the Company had failed to demonstrate that the Company and its business were suitable for listing under GEM Listing Rule 11.06. Letter 2 - The GEM Listing Committee, subject to certain specified conditions, reversed the rejection decision of the Listing Division on review. |
GEM Rule 11.06 |
Rejection Letter |
New Applicants |
| 04/2006 (03/2019) |
RL15-06 |
Letter 1 - The Listing Committee rejected the listing application of the Company for the reason that the Company was not considered to be suitable for listing as it had not put in place throughout the track record period the required controls and procedures on which it was relying on for listing eligibility purposes. Letter 2 - The Listing (Review) Committee reversed the rejection decision of the Listing Committee on review. |
Rule 8.04 |
Rejection Letter |
New Applicants |
| 04/2006 (03/2019) |
RL13-06 |
Letter 1 - The GEM Listing Committee exercised its discretion under GEM Listing Rule 2.07 to request the Company to provide the Listing Division with detailed explanations regarding the issues raised by the GEM Listing Committee. The Company failed to address the concerns of the Listing Committee by providing the appropriate level of assurance to the Listing Division. The Listing Division therefore rejected the listing application of the Company. Letter 2: The GEM Listing Committee upheld the rejection decision of the Listing Division on review. |
GEM Rule 2.07 |
Rejection Letter |
New Applicants |
| 04/2006 (03/2019) |
RL12-06
|
Letter 1 - The Listing Division rejected the listing application of the Company as the Company failed to satisfy the "capability of carrying on its business independently" requirement of Listing Rule 8.04. Letter 2 - The Listing Committee upheld the rejection decision of the Listing Division on review. |
Rule 8.04 |
Rejection Letter |
New Applicants |
| 02/2007 (03/2019) |
RL21-07 |
The Listing Committee rejected the listing application of the Company for the reason that the Group was not able to demonstrate that it is capable of carrying on its business independently of its controlling shareholders and therefore the Listing Committee considered the Group not suitable for listing as required by Listing Rule 8.04. |
Rule 8.04 |
Rejection Letter |
New Applicants |
| 02/2007 (03/2019) |
RL20-07 |
Letter 1 - The Listing Committee considered the Company not suitable for listing under Listing Rule 8.04 because the Company's business model was effectively captive to another company which was both the source of its principal raw materials and its principal customer channel during the Track Record Period. The Listing Committee considered this to be an extreme case that could not be adequately addressed by corporate governance measures alone given the conflicting roles of the Company's controlling shareholder. Letter 2 - The Listing (Review) Committee decided to uphold the decision of the Listing Committee. |
Rule 8.04 |
Rejection Letter |
New Applicants |
| 02/2007 (03/2019) |
RL19-07 |
The Listing Committee rejected the listing application of the Company for the reason that the Group should not be considered suitable for listing under Listing Rule 8.04 in light of that the change in the nature of the Company's revenue generating activities going forward was so fundamental as to affect its suitability for listing and was not a matter which could be dealt with solely by disclosure. |
Rule 8.04 |
Rejection Letter |
New Applicants |
| 02/2007 (03/2019) |
RL18-07 |
Letter 1 - The GEM Listing Committee rejected the listing application of the Company for the reason that the Group should not be considered suitable for listing under GEM Listing Rule 11.06 in light of the various issues arising from an anonymous complaint relating to the Company's borrowings from its employees. Letter 2 -The GEM Listing (Review) Committee decided to overturn the decision of the GEM Listing Committee, subject to certain specified conditions. |
GEM Rule 11.06 |
Rejection Letter |
New Applicants |
| 04/2009 (03/2019) |
RL25-09 |
LETTER 1 - Extracts of the decision letter of the Head of Listing. LETTER 2 - Extracts of the decision letter of the GEM Listing Committee on review. LETTER 3 - Extracts of the decision letter of the GEM Listing (Review) Committee on review. |
GEM Rule 11.06 |
Rejection Letter |
New Applicants |
| 03/2005 (10/2017) |
RL5-05 |
A Main Board listing applicant failing to satisfy the "ownership continuity and control" requirement of Rule 8.05(1)(c) |
Rule 8.05 (1)(c) |
Rejection Letter |
New Applicants |
| 11/2008 (07/2014) |
LEGL03-08 |
Guidance on who constitutes a connected person of an issuer
Guidance on what procedures an issuer should adopt to ensure compliance with the connected transactions provisions in the Listing Rules
|
Rules 2.13, 14A.35, 14A.36, 14A.46 and 14A.48 |
No Further Disciplinary Action (Guidance) Letter |
Listed Issuers |
| 02/2009 (01/2013) |
LEGL08-09 |
Guidance on the principle requiring fair and simultaneous access to information |
Rule 13.09 |
No Further Disciplinary Action (Guidance) Letter |
Listed Issuers |
| 12/2008 (01/2013) |
LEGL06-08 |
Guidance on fair and simultaneous disclosure of potentially price-sensitive information |
Rule 13.09 |
No Further Disciplinary Action (Guidance) Letter |
Listed Issuers |
|
11/2008 (01/2013) |
LEGL02-08 |
Guidance on dealing with press interviews and analyst
Information regarding prospects for new business and state of order book to be included in MD&A |
Rules 2.13(2), 13.09 |
No Further Disciplinary Action (Guidance) Letter |
Listed Issuers |
|
05/2006(09/2009) |
RL17-06 |
Letter 1 - The Listing Division rejected the listing application of the Company as the Company failed to satisfy the Exchange that it had a business that satisfied the substance and potential requirements of GEM Listing Rule 11.12. Letter 2 - The Listing Division's rejection decision was upheld by the GEM Listing Committee. |
GEM Rule 11.12 |
Rejection Letter |
New Applicants |
|
04/2006(09/2009) |
RL11-06 |
Letter 1- The Listing Division rejected the application of a GEM applicant for the reason that the Company failed to demonstrate that it had a business that satisfied the substance and potential requirements of Note 3 to GEM Listing Rule 11.12. Letter 2 - The GEM Listing Committee upheld the rejection decision of the Listing Division. Letter 3 - The GEM Listing (Review) Committee reversed the decision of the GEM Listing Committee. |
Note 3 to GEM Listing Rule 11.12 |
Rejection Letter |
New Applicants |
|
03/2005(09/2009) |
RL7-05 |
A GEM listing applicant failing to satisfy that it had a business of substance and potential for the purposes of GEM Rule 11.12 |
GEM Rule 11.12 |
Rejection Letter |
New Applicants |
|
12/2004(09/2009) |
RL2-04 |
A GEM listing applicant failing to satisfy the "one focused line of business" requirement of GEM Listing Rule 11.12 |
GEM Rule 11.12 |
Rejection Letter |
New Applicants |
|
12/2004(09/2009) |
RL1-04 |
A GEM listing applicant failing to satisfy the "one focused line of business" requirement of GEM Listing Rule 11.12 |
GEM Rule 11.12 |
Rejection Letter |
New Applicants |