The Listing Nominating Committee is now seeking applications from individuals interested in serving on the Listing Committee and the Growth Enterprise Market (GEM) Listing Committee(1). Appointments will be for a term of approximately twelve months commencing in May 2007. In addition to applications received in response to this news release, the Listing Nominating Committee will consider reappointing existing Listing Committee members, all of whom have served for less than the maximum term of six years prescribed by the Listing Rules.
The Listing Nominating Committee also welcomes the decision of the Board of Hong Kong Exchanges and Clearing Limited (HKEx) that, commencing with the appointments to be made in May 2007, HKEx will offer to pay Listing Committee members a fixed annual fee of $80,000 on account of attendance at and preparation for regular, policy, disciplinary and review meetings.
Listing Committee members play an important role in the Hong Kong listing regime and the Hong Kong market. Members make a significant personal contribution to public service and to the success of Hong Kong's development as a leading international finance centre.
The Listing Committee comprises at least 28 members including: the HKEx Chief Executive who is an ex-officio member; at least eight appointed investor representatives; and 19 appointed members who are a balance of representatives of the industry. At a minimum, applicants should have an understanding of the Listing Rules and the context in which listing decisions are made.
For information about the role of the Listing Committee and its mode of operation, please refer to the Listing Committee's Annual Report for 2006 which may be found at http://www.hkex.com.hk/listing/listcomrpt/AnnualRpt_2006.pdf.
The Listing Committee meets at least weekly and members are generally expected to attend half of the regular meetings in addition to some special meetings such as quarterly policy meetings, disciplinary meetings and review meetings.
Applications for nomination to the Listing Committee may be made by letter and must be accompanied by a resume. Applications should be submitted on or before Friday 23 March 2007. They should be marked confidential and delivered to Richard Williams, Secretary to the Listing Nominating Committee, 11/F One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, or by email to LNCSecretary@hkex.com.hk, or by facsimile to 2295 4806. Applications will be treated in strict confidence. Personal data provided will only be used for the purpose of application for appointment to the Listing Committee.
(1) The Listing Committee and the GEM Listing Committee have operated as an integrated committee since 2003. References to the Listing Committee include the GEM Listing Committee.
