Clifford Chance
Amendments to Hong Kong Stock Exchange listing rules – Notifiable transactions exemption for aircraft leasing activities
5 December 2018
On 17 August 2018, The Stock Exchange of Hong Kong Limited (the Stock Exchange) published consultation conclusions (the Consultation Conclusions) to the consultation paper dated 17 November 2017 in which the Stock Exchange proposed an exemption from the notifiable transaction rules for certain qualified aircraft leasing activities by certain qualified aircraft lessors. The Stock Exchange decided to adopt, with certain modifications, the proposals set out in the consultation paper and amended Chapter 14 of The Rules Governing the Listing of Securities on the Stock Exchange (the Listing Rules) accordingly, with effect from 15 October 2018.
These amendments to the Listing Rules provided definitions of qualified aircraft lessors and their qualified aircraft leasing activities which would be exempted from specific announcement, circular and/or shareholder approval requirements applicable to notifiable transactions. Such qualified issuers would, instead, be subject to more relaxed disclosure requirements with respect to such qualified aircraft leasing activities by way of announcement and by disclosure in their interim/annual reports.
