Update No. 123

Note to subscribers for the amendments to

the rules governing the listing of securities (the "Listing Rules")

Update No. 123

December 2018

Dear Sirs,

Amendments to the Main Board Listing Rules

We enclose reprinted pages of the Listing Rules and filing instructions. The reprinted pages incorporate amendments to implement the proposals of the "Consultation Conclusions Paper on Review of the Corporate Governance and Related Listing Rules" published on 27 July 2018.
We have amended the Listing Rules to:
		strengthen the transparency and accountability of the board and/or nomination committee and election of directors, including independent non-executive directors ("INEDs");
		improve transparency of INEDs' relationships with issuers;
		enhance criteria for assessing independence of potential INED candidates;
		promote board diversity, including gender diversity; and
		require greater dividend policy transparency.
Coming into effect
The amendment will come into effect on 1 January 2019.
Please click HERE to see the amendments to the Listing Rules.

Yours faithfully,
For and on behalf of
The Stock Exchange of Hong Kong Limited

David Graham
Head of Listing