to force listed companies increase cash dividends reward shareholders

Securities dividends promised new rules mean gem into a Constitution After the SFC bonus has just introduced new initiatives, journalists today was informed that the Securities and Futures Commission recently launched the bonus rules for listing on the gem company, asked gem company dividends promised to write the articles, and tips on major matters in the prospectus. In addition, the Commission requires the gem company to develop the dividend return plan, should be continued. According to the Commission's request, The issuer should be clear in the articles: issue shares to be listed after profit distribution policies, including the distribution of profits, specific conditions and amount of cash dividends or ratio, specific conditions, the distribution of profits to distribute stock dividends during the interval, such as distribution of profits shall perform the procedure for the consideration. At the same time, issuers on profit distribution planning decisions and adjustment mechanisms also need to be in the companyProcess clear. As a result of large changes in the external business environment and internal operation of the need to adjust the profit distribution policy, protection of shareholders ' rights should be the starting point, at the general meeting of shareholders for detailed demonstration and explanation in the proposal. Under the new rules, issuers need to disclose in the prospectus profit distribution policy and implementation during the reporting period, including the reasons for not for profit distribution and retention fundingGold is used for. In addition, the company's dividend return factors considered by the planning and formulation and decision-making processes also require to disclose in the prospectus. The industry believes, the SFC corporate dividend requirements are listed on GEM sources began to grab. At the same time, concern is that of the SFC to require issuers in prospectuses Home on the dividend policy for "significant matters tips"Issue shares to be listed after the profit distribution policy, the specific plans to reward plan, dividend policy and dividends instructions. This corresponds to, sponsor organizations, lawyers and intermediaries such as reporting accountants have many duties, to the issuer's dividend policy disclosure verification and the verification opinion. Special requirements of the SFC swtor power leveling, verification of intermediaries should describe the issuer's profitsDistribution policies are focused on giving investors steady returns, whether it is conducive to protecting the legitimate rights and interests of investors, company prospectus and prospectus disclosure of profit distribution matters, such as the relevant provisions. Although on the surface, the new rules of the securities is intended primarily for information disclosure of companies pay dividends for the specification and refinement, and does not constrain what percentage of the cash dividend, but investment bankers point out that,Although not listed any hard constraints, in the implementation in practice, the SFC may be similar to the window to direct requests to the dividend commitments swtor credits, especially for IPO companies, have been implementing this requirement. Practitioners say, compulsory dividend rules of implementation of and follow-up to, IPO from gem company began. Board and small bonus rules surely will continueTo. This reporter learned that, while the current Board and small bonus rules have not yet issued, but IPO material volume be listed companies have joined the dividends promised in the original prospectus. November 10, the Commission held a media briefing, promised in response to market the four hot spots, to force listed companies increase cash dividends reward shareholders, strengtheningCredit construction of listed companies, and so on. Recently issued to the various market organisations implement the document, either the honesty or the efforts to increase dividends, starting from second board companies. On November 18, Commission officials said the delisting of the gem system will also be made public for comment. Open frame under gem publishing in the early days of the Shenzhen Stock Exchange second board stocksListing rules are clear delisting criteria in article 11, including the last two years of losses, the most recent fiscal year shows that year audited a negative net worth, the company implemented stock 120 consecutive days cumulative turnover of less than 1 million units. In July this year, General Manager of Shenzhen Stock Exchange announced Song Liping, also added two standards on this basis within the last 36 months tiredMeter Exchange publicly censured 3, price 20 consecutive trading days less than the nominal value of stocks transactions, will terminate the GEM listing on the stock.