Listing Rules Amendments to the GEM Listing Rules
              

Note to subscribers for the amendments to
the rules governing the listing of securities on the Growth Enterprise Market
(the "GEM Listing Rules")

Update No. 33

December 2009

Dear Sirs,

Acceleration of rights issues

We enclose reprinted pages of the Listing Rules. The reprinted pages incorporate amendments to shorten the minimum notice period for book closure in respect of rights issues from 14 calendar days to six business days and codify the requirements where the issuer decides on a record date without book closure.

A new note has been added to the rule 17.78 to require, in the case of a rights issue, the issuer to provide at least two trading days (during neither of which trading is interrupted) for trading cum-rights securities before book closure. The amendments implement the proposals in the ˇ§Consultation Conclusions on Proposals to Accelerate Rights Issues and Open Offersˇ¨ published in December this year.

We also enclose the filing instructions.

Coming into effect

The amendments will come into effect on 1 February 2010.

Please click HERE to see the amended Rules.

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

Mark Dickens
Head of Listing