TNAG-2464-FCO40-3588-UK-business-interests-in-Hong-Kong-Jardine-Matheson-Holdings-1992 — Page 73

Jardine Matheson Limited

James

Incorporated in Bermuda with limited liability

Jardine House G.P.O. Box 70 Hong Kong

January 30, 1992

Telephone: 843 8388

Facsimile: 845 9005 Telex: 73255 JMGHO

Hamish McLeod, Esq, CBE

Financial Secretary Hong Kong Government HONG KONG

HABORO/1

STRICTLY PERSONAL

I leave Hong Kong tomorrow and shall not be back second half of March.

until the

I thought it might be helpful to leave you with my impression of where we are on the Jardine Listing issue.

Stock Exchange Council rule changes for a

My understanding is that the yesterday approved a number of secondary listing for Jardines. They were agreed in discussion with us and give us no problems.

The changes include two items on which the SFC had privately expressed concern to us.

The first is entry safeguards: conditions will now be set which make it difficult for other companies to follow the same route as Jardines. The principal one is acceptance of a primary listing by the London Stock Exchange. Given the relationship and understanding between the London Stock Exchange and Hong Kong Stock Exchange, this is a simple and pragmatic solution to the flood-gate problem.

The second is the period of notice to be given to shareholders should a company eventually decide to de-list a secondary listing. The period was previously a month. We have agreed an extension to three months.

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