ASX amends Listing Rule on off-market transfers and releases consultation paper about accelerated rights issues

ASX has advised that an amendment to Listing Rule 8.14 has come into effect to enable listed entities and their registries to charge a reasonable fee for registering paper-based off-market transfers. Listed entities must notify ASX Listings of the amounts which they propose to charge, and also produce sufficient evidence to allow ASX Listings to determine if the fee proposed is reasonable, before they may start charging the fee.

To provide listed entities with information about the amendment, ASX has issued Guidance Note 28 Transfers and Registration: Fees for registering Paper-based Transfers in Registrable Form.

In addition, ASX has released a consultation paper and exposure draft which sets out amendments ASX proposes to make to its Listing Rules to facilitate common forms of renounceable and non-renounceable capital raisings without the need for listing rule waivers. These types of capital raisings are commonly referred to as ‘accelerated rights issues’ (or ‘Jumbo’, ‘Rapid’ or ‘Sareo’).

Interested parties can comment on the proposed changes up to Friday, 25 February 2011.
Both Guidance Note 28 and the consultation paper are available from the ASX Group website, www.asxgroup.com.au.

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