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Book closure


The Listing Rules do not explicitly mandate the adjournment of shareholders’ meetings due to bad weather.  However......


Book closure period has become a hot topic after some listed issuers received a Reminder on the Requirements and Guides on Shareholders’ Meetings dated 1 Mar 2017 (the “HKSCC Reminder”) from Hong Kong Securities Clearing Company Limited (“HKSCC”).


In the HKSCC Reminder, it states in bold “…… a record date or last share registration date to determine shareholders’ voting rights is required to be set and announced for each shareholder meeting and such date must be set at least four business days before the meeting date.  Please also ensure proxy form submission deadline should not be set before the record date.”


To help clarify the points raised in the HKSCC Reminder, relevant extracts of the guidelines are appended below for your easy reference.

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