Contributed by: Ian Beaumont, Joanna Khoo, Aria Molteni-Luporini and Lucy Clifford
Published on: April 12, 2018
NZX has released a consultation paper and initial exposure draft of the revised NZX Listing Rules and is seeking feedback on the proposed changes. A table summarising the main proposed changes can be found here.
The closing date for submissions on the exposure draft is Friday 8 June. Russell McVeagh submitted on NZX's initial 2017 discussion paper and will be providing a further submission on the exposure draft. We look forward to collaborating with any clients that would like to have their views included in our feedback. Any questions or comments can be directed to one of our experts listed below.
The key objectives of NZX's Listing Rule review is to reduce complexity and promote market activity, whilst enhancing investor protections. The final version of the amended NZX Listing Rules is currently expected to become effective from 1 January 2019, with a transitional period ending on 1 July 2019. Issuers may need to update existing governing documents in response to NZX Listing Rule changes.
Some key points from NZX's consultation paper and the initial exposure draft are listed below:
This article is intended only to provide a summary of the subject covered. It does not purport to be comprehensive or to provide legal advice. No person should act in reliance on any statement contained in this publication without first obtaining specific professional advice. If you require any advice or further information on the subject matter of this newsletter, please contact the partner/solicitor in the firm who normally advises you, or alternatively contact one of the partners listed below.
Partner, Corporate Advisory
Special Counsel, Corporate Advisory