Where a TWSE listed company plans to publicly disclose or convene a board of directors meeting to adopt resolutions on any of the following before 5 P.M. on a business day, it shall apply to the TWSE for a halt of dealings, with a Halt Application submitted (Appendix 4) stating the reason(s) and relevant content, on the business day before the public disclosure or meeting, provided it may submit the application before 7:00 A.M. on the business day of the public disclosure or meeting in the event of an emergency preventing timely application:
The TWSE may reject the aforementioned application if:
- Serious decrease in output or complete stoppage of work.
- Any event set forth in Article 185 of the Company Act, except where the event has no material impact on shareholder equity or securities prices.
- A petition to court for bankruptcy or reorganization.
- Merger or consolidation, spin-off, acquisition, or swap, conversion or assignment of shares, or cancellation of any of the above, except where no shareholders' resolution is required for the merger or consolidation as under Article 18, paragraph 7, Article 19, paragraph 1, Article 29, paragraph 6, Article 30, paragraph 1, Article 36, paragraphs 1 and 2, Article 37, paragraph 1 of the Business Mergers And Acquisitions Act, or no material impact is caused to shareholder equity or securities prices.
- Completion of development of a new product, successful development and formal entrance into mass production of trial products, and major development progress of a new product or new technology, except where no material impact is caused to shareholder equity or securities prices.
- Other circumstances with a material effect on shareholder equity or securities prices.
- The application is made where the circumstance in paragraph 1 does not occur.
- The halt is unnecessary as a public disclosure has been made by the TWSE listed company.
- The TWSE deems the application unjustified or deems a halt unadvisable.