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Below is a very short summary of the Hong Kong and Australian requirements that shareholders of Brockman Mining Limited (Brockman) need to be mindful of. To ensure compliance with all the regulatory requirements, Brockman encourages shareholders to seek advice from a financial adviser or a lawyer.
Shareholders holding 5% or more of a company listed in the Hong Kong Stock Exchange (SEHK) need to file a substantial shareholders notice to the SEHK. When there is an increase or decrease in the percentage figure of the shareholder’s holding that results in the holding crossing over a whole percentage number which is above 5%, the shareholder will have to notify the change to the SEHK.
The substantial shareholder notice and respective instructions sheet can be found at the following links:
After completion of the forms of Disclosure of Interests, submission can be done electronically via the following link: https://sdinotice.hkex.com.hk/
Under the Australian Foreign Acquisitions and Takeovers Act a person who has 15% of Brockman will have the same interest in the Australian Company as Brockman. Brockman shareholders are advised to seek Australian legal advice before acquiring 15% of Brockman.
As the Brockman is not subject to the takeover provisions of the Australian Corporations Act, being a SEHK listed company, Brockman is subject to a 30% takeover threshold.
When a shareholder wishes to shunt shares from one of the two registers (the Home Register) to the other register (the Destination Register), the shareholder must provide the Home Register with a written direction to that effect. The Home Register will then remove the shares from their holding, and place those shares into the control of the Destination Register. A confirmation will then be sent to the Destination Register, which will place the shares into a holding in exactly the same name of the delivering shareholder.
Change of address
For shareholders whose shares being registered in the Hong Kong share register, please fill in the following form if you wish to update your address, and return to Tricor Secretaries Limited at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong.
Disclaimer of responsibility
Please note that it is shareholders’ responsibility to comply with the Hong Kong and Australian requirements with regard their interest in Brockman. The above information is a brief summary only and Brockman disclaims any responsibility arising from insufficient guidance. Shareholders are advised to seek advice from the lawyers or financial advisors. The following links may assist a shareholder in searching for legal advisors in Hong Kong or in Australia.