Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

HKEx: Abolition Of The Scrip Fee On Deemed Book Close Dates

Date 09/11/2005

The Board of Hong Kong Exchanges and Clearing Limited ("the Board") has today approved the abolition of the scrip fee on deemed book close dates, which is subject to approval of the Securities and Futures Commission ("SFC") under Section 76 of the Securities and Futures Ordinance ("SFO").

The Board approved today the elimination by the Hong Kong Securities Clearing Company Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited, of the scrip fee on deemed book close dates with effect from 1 January 2006 subject to the SFC's approval under Section 76 of the SFO. Based on 2004 market statistics, the abolition of fee would result in an estimated revenue reduction of HK$46 million on a yearly basis.