Reforms to the ASX Listing Rules were due to come into effect on 1 July 2019. The ASX has announced that the implementation of the amended ASX Listing Rules will now come into effect on 1 December 2019.
The proposed changes which were due to form part of the ASX Listing Rules as at 1 July, included changes relating to:
- how entities interact with the ASX (in particular, the requirement for a responsible person who has completed a compliance course to be appointed by the listed entity in respect of its dealings with the ASX);
- how the results of shareholder meetings are to be more comprehensively disclosed; and
- how listed companies will be required to rely on ASX Listing Rule 7.1 placement capacity for non-cash consideration capital raising rather than 7.1A.
The draft changes were published in November 2018, and the release of the final version is expected in late September to early October 2019. As a result of the delay, entities will not need to consider the changes prior to their Annual General Meetings. We will keep you updated on developments.