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Issuance of Amendments to Main Market Listing Requirements and ACE Market Listing Requirements (Circ

Circular No 058/2019
Dated 25 Mar 2019

To Members of the Malaysian Bar

Issuance of Amendments to Main Market Listing Requirements and ACE Market Listing Requirements on 6 Mar 2019

Bursa Malaysia Berhad (Regulatory Policy & Advisory) has informed us, in its email dated 7 Mar 2019, regarding the issuance of amendments to the Main Market Listing Requirements (“Main LR”) and ACE Market Listing Requirements (“ACE LR”) (collectively referred to as “LR”) consequential to the revised guidelines issued by the Securities Commission Malaysia (“SC”) on 6 Mar 2019.

Kindly note that the amendments came into effect on 13 Mar 2019.   

Please click here to view the following documents (see pages 3 to 33):

(1) Bursa Malaysia Berhad’s circular dated 6 Mar 2019;
(2) Appendix 1 setting out the full text of the amendments to the Main LR; and
(3) Appendix 2 setting out the full text of the amendments to the ACE LR.

For more details, please refer to the email from Bursa Malaysia Berhad, which is reproduced below, or visit Bursa Malaysia Berhad’s website at www.bursamalaysia.com.

Thank you.

Salim Bashir
Secretary
Malaysian Bar


7 Mar 2019

Please be informed that the amendments to the Main Market Listing Requirements (“Main LR”) and ACE Market Listing Requirements (“ACE LR”) (collectively referred to as the “LR”) consequential to the revised guidelines issued by the Securities Commission Malaysia (“SC”) have been issued on 6 March 2019.

Following the issuance of the SC’s revised guidelines, we have made the following amendments to the LR:  

(a) amendments relating to the significant change in the business direction or policy of a listed issuer consequential to the revised Equity Guidelines issued by the SC (“RTO Amendments”); and

(b) other amendments consequential to the revised Prospectus Guidelines, the Malaysian Code on Take-Overs and Mergers 2016 and Rules on Take-Overs, Mergers and Compulsory Acquisitions issued by the SC (collectively “TOM Code”) (“Other Consequential Amendments”).

RTO Amendments

The following amendments to the LR were made in relation to a transaction involving a significant change in the business direction or policy of a listed issuer:

  1. removing the contents of circular from the LR since the same is now prescribed in the Equity Guidelines;
  1. enhancing disclosures in the announcement by requiring additional audited financial information of the assets or interests to be acquired and streamlined the disclosure requirements as required in a circular under the Equity Guidelines, where appropriate;
  1. streamlining certain definitions used in the LR to align with the Equity Guidelines; and
  1. streamlining contents of declarations made by applicant, directors and other relevant persons in the ACE LR, to align with the Equity Guidelines.

Other Consequential Amendments

We have also amended the LR to update references to the TOM Code and changes to the cross referencing of the relevant provisions in the Prospectus Guidelines and TOM Code.

The above LR amendments are effective from 13 March 2019 onwards.   

In view of the above, we are pleased to attach the following documents for your ease of reference:

  • Our circular dated 6 March 2019.
  • Appendix 1 setting out the full text of the amendments to the Main LR.
  • Appendix 2 setting out the full text of the amendments to the ACE LR.

These documents are also available on our website. In addition, the clean versions of the amended Chapters/Practice Notes/Guidance Notes of the Listing Requirements will also be uploaded on our website on the said effective date.

Thank you.

Norlaila Mohamed
(For and behalf of Regulatory Policy & Advisory, Bursa Malaysia Berhad)

 

Please click here to view the full circular (including any appendices).