Short Selling is BNB covered by the extension till Jan 2009?
Please be aware that the ASIC has announced that it would extend the ban on covered short selling for non-financial securities until 18 November 2008.
In summary, the key changes are noted below:
1. The ban on financials will continue until 27 January 2009. For the purposes of the Australian market, ASIC has taken a pragmatic approach to the definition of financials as entities in the S&P/ASX 200 Financial Index (which will include property trusts and five other APRA supervised listed entities not in this index).
2. ASIC expects to lift the ban on non financials from opening trade on 19 November 2008. ASIC cannot, however, provide greater certainty than that because of the state of the markets.
3. As part of lifting the ban on non-financials, ASIC with ASX have been putting in place disclosure and reporting arrangements that will apply from the time the ban is lifted. These will be announced to the market later this week.
For clarity, no changes have been made to the exemptions and facilitations which ASIC has granted. In short, all current arrangements will continue. Please review the link for further information: Short Selling Announcement
BNB
babcock & brown limited
