Continuing listing obligations
the obligation to submit financial statements in accordance with paragraph 5.34(1)
of the Main LR apply to an issuer which issues a bull equity linked structure
on 1 September 2009 with an expiry date of 6 months and the issuer has a
financial year ending on 31 December?
No, pursuant to paragraph 5.34(2) of the Main
LR, the obligation to submit financial statements does not apply to an issuer
of bull equity linked structure with an expiry date which takes place before
the due date to submit financial statements. In this instance, the bull equity
linked structure will expire on 28 February 2010 whilst the due date to issue
the financial statement is within 3 months of 31 December 2009 i.e. by 31 March
2010. Therefore, the obligation to submit financial statements in accordance
with paragraph 5.34(1) does not apply.