Roles and Responsibilities of the Listing Sponsor
- All applicant issuer and issuer must have a Listing Sponsor at all time.
- Listing Sponsor must be appointed by applicant issuer for purpose of application for listing of each class of financial instrument.
- Advises and guide the issuer on the application of the Listing Requirements.
- Assesses the company's suitability for listing.
- Advises on the method of bringing the company's financial instruments to listing.
- Listing Sponsor is responsible to ensure that each application is complete and proper before submitting to the Exchange.
- Listing Sponsor shall act as the principal channel of communication with the Exchange during the application process.
- Once a listing application is successful, the Listing Sponsor shall become the Listing Sponsor for the duration of the listing of the financial instrument on the Exchange.
- Listing Sponsor, as mentioned above, shall be responsible and answerable to the Exchange, to ensure that the issuer complies with all requirements of the Exchange in relation to the listing of the financial instrument.
- Listing Sponsor shall act as the principal channel of communication with the Exchange during the listing period.
- Listing Sponsor shall undertake the tasks of an Issuing House.
- Listing Sponsor must ensure that the applicant issuer or issuer receives sound, fair and impartial guidance and advice as to the requirements of the Exchange.
- Listing Sponsor shall be specifically responsible:
- to submit on behalf of the applicant issuer or the issuer to the Exchange or any other party all the information and documents required by the Exchange to be submitted to the Exchange or any other party by the applicant issuer or the issuer
- to ensure that the issuer makes proper and timely payment of the listing fees as required by the Exchange
- Notwithstanding the above, the Exchange may communicate directly with the applicant issuer, its adviser or the issuer other than the Listing Sponsor on any matter relating to the listing. In the event of such communication, the Listing Sponsor shall be informed of any matters relating to the listing by the issuer as soon as practicable. The Listing Sponsor would not be dissolved from its responsibility and obligations, insofar to the Exchange communicating directly with the applicant issuer.
- Applicant issuer shall provide a Board Resolution approving and endorsing its listing application when signing the declaration form set out in Schedule C of the LFX Rules during the application process.
- Listing Sponsor shall sign a declaration in the form set out in Schedule D of the LFX Rules during the application process.
- In the event supplementary Listing Documents are required to be submitted after the Listing Document has been approved by the Exchange, the Listing Sponsor's written and signed undertaking stating that the supplementary Listing Documents comply with the Exchange's requirement must be submitted together with the supplementary Listing Documents.
- Deals and communicates with the Exchange in resolving any Exchange comments on any particulars of the listing.
Post Listing Obligations of the Listing Sponsor
SponsorListing Sponsor shall be responsible and answerable to the Exchange to ensure that the issuer complies with the requirements of the Exchange in relation to the following post listing obligations of an issuer:
- Issuers whose financial instruments are listed on the Exchange have to pay the required initial and annual listing fees in accordance with the rates as determined by the Exchange.
- Issuers shall keep the public, the Exchange and the holders of the financial instruments immediately informed of any material information relating to the issuer and the financial instruments.
- If the financial instruments are also listed on another exchange, the issuer is to ensure that the equivalent information or document provided or submitted to such other exchange, is also provided or submitted to the Exchange.
In addition, Listing Sponsor is required to comply with the following post-listing obligations:
- Listing Sponsor shall maintain an updated record and information on the issuer.
- All annual financial statements required to be submitted under Rule 28 of the Rules of the Exchange ("the Rules") shall be submitted through the Listing Sponsor.
- All disclosure required to be made by the issuer under Rule 29 of the Rules shall be communicated through the Listing Sponsor.
- Listing Sponsor, on behalf of the issuer, shall immediately respond to the exchange's enquiries within 72 hours on any unusual market movement.
- All annual financial statement required to be submitted under Rule 30 of the Rules shall be submitted through Listing Sponsor.
- Listing Sponsor, on behalf of the issuer, shall supply to the Exchange further information from time to time.
- Listing Sponsor shall at all time act with reasonable prudence and diligence advising issuer regarding participation and/or assisting any other person to participate in any insider dealing and equal treatment for all holders of the financial instruments listed on the Exchange.
- Listing Sponsor may be required to comply with additional continuing obligation by the Exchange whenever appropriate.