According to the announcement, the board of directors of HKEx still believes that the merger of the London Stock Exchange Group and the Hong Kong Stock Exchange is of great strategic significance and will create a world-leading market infrastructure group. Despite its contacts with many regulators and a large number of shareholders, the board of directors of HKEx was disappointed that it failed to convince the management of the London Stock Exchange Group to share this vision.
The original announcement of the Hong Kong Stock Exchange is as follows:
No longer continue to make relevant offers to the London Stock Exchange Group.
This announcement is issued in accordance with Part XIVA of the Securities and Futures Ordinance and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
I would like to refer to the announcements published by Hong Kong Exchanges and Clearing Limited ("HKEx") on September 20th11and September 20th19+13 about the possibility of issuing an offer to the London Stock Exchange Group Limited ("LSE Group").
This is an announcement issued by the Hong Kong Stock Exchange in the UK today, indicating that it does not intend to make an offer to the London Stock Exchange Group. Shareholders and potential investors of the Stock Exchange of Hong Kong should be cautious when buying, selling or investing in the shares of the Stock Exchange of Hong Kong.
Accept orders from the board of directors
Hong Kong Exchanges and Clearing Limited
Group company secretary
Miao Jincheng
Hong Kong, 2019101October 8th.
Following the announcement by Hong Kong Exchanges and Clearing Limited ("HKEx") and London Stock Exchange Group Limited ("LSE Group") that HKEx can make an offer for all the issued and pending share capital of LSE Group, HKEx confirms that it has no intention to make an offer to LSE Group, so HKEx is subject to the restrictions of Article 2.8 of the Code, except the following circumstances.
The board of directors of HKEx still believes that the merger of the London Stock Exchange Group and HKEx is of great strategic significance and will create a leading market infrastructure group in the world. Despite its contacts with many regulators and a large number of shareholders, the board of directors of HKEx was disappointed that it failed to convince the management of the London Stock Exchange Group to agree to this vision. In the best interests of the shareholders of the Hong Kong Stock Exchange, the board of directors of the Hong Kong Stock Exchange decided not to continue this offer procedure.
According to Note 2 of Article 2.8 of the Code, HKEx and its concerted parties reserve the right to announce an offer or a possible offer, or make or participate in an offer or a possible offer, or take any other action restricted by Article 2.8 of the Code within six months after the date of this announcement: (a) with the approval or consent of the Board of Directors of the London Stock Exchange Group; (b) if any third party announces its clear intention to make an offer to the London Stock Exchange Group; (c) If the London Stock Exchange Group announces a "liquidation" proposal (see the explanation of exemption in Article 9 of the Code 1) or an anti-takeover (as defined in the Code); (d) If the British Mergers and Acquisitions Committee ("the Committee") considers that the situation has changed significantly; Or (e) other circumstances agreed by the Committee.
According to Article 2.8 of the Code, HKEx and its concerted parties reserve the right to acquire and/or offer to acquire the shares of the London Stock Exchange Group or the interests of the shares of the London Stock Exchange Group.