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- Release Date: 30/03/12 17:58
- Summary: GENERAL: NZX: NZX consults on proposed Rule changes
- Price Sensitive: No
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NZX
30/03/2012 15:58
GENERAL
REL: 1558 HRS NZX Limited
GENERAL: NZX: NZX consults on proposed Rule changes
NZX consults on proposed Rule changes
30 March 2012 - NZX has today released a consultation memorandum regarding
proposed amendments to the Main Board and Debt Market Listing Rules ("Listing
Rules").
There are four types of Rule changes proposed:
1. Requirements for listed companies to report on diversity at Board and
senior management level;
2. Changes to reduce compliance costs, for example, in relation to
employee share schemes, requirements to notify the market of issues of
securities and by aligning aspects of annual disclosure with Companies Act
requirements;
3. Changes to assist companies raising capital, including by the use of
over-subscription facilities for rights issues;
4. Changes to update the Listing Rules for legislative developments and
other minor amendments.
"New Zealand's capital markets are dynamic and evolving. NZX's prime
objective in proposing this series of changes is to serve the needs of our
Listed Issuers and investors in our markets, with better, more timely and
more appropriate information.
"As always, we welcome feedback from interested parties, and we view the
consultation process as a critical phase in generating the highest possible
quality end product. By preparing this consultation document now, we can
allocate a significant chunk of time for people to consider the proposals and
get their feedback to us," said NZX CEO Mark Weldon.
The consultation memorandum is available to download at the following link:
https://nzx.com/market-supervision/rules-consultation.
The full set of proposed Rules changes will be available on Monday 2 April.
The closing date for submissions is 30 May 2012. Submissions should be
emailed to [email protected] or mailed to NZX Limited, PO Box 2959,
Wellington.
ENDS
End CA:00221396 For:NZX Type:GENERAL Time:2012-03-30 15:58:42
