Mr Webb's appointment is effective immediately. It is pursuant to a recent amendment to the Main Board Listing Rules and Growth Enterprise Market (GEM) Listing Rules that changed the composition of the Listing Nominating Committee such that the HKEx representatives on the Committee are three non-executive members of the HKEx Board rather than two members of the HKEx Board and the Chief Executive of The Stock Exchange of Hong Kong Limited (SEHK), a wholly-owned subsidiary of HKEx.
The Listing Nominating Committee is responsible for nominating members of the Listing Committee for appointment or re-appointment in each year. Apart from the HKEx representatives, the Listing Nomination Committee comprises the Chairman and two Executive Directors of the Securities and Futures Commission.
In addition to Mr Webb, the HKEx Chairman, Charles Lee and HKEx non-executive director, John Strickland, will continue to represent HKEx on the Listing Nominating Committee. The members' terms on the Committee are coterminous with the respective term of their HKEx directorship.
The press release announcing the recent Listing Rule amendment is available at http://www.hkex.com.hk/news/hkexnews/0602032news.htm.
