| Title： |
Operating Rules of the Taiwan Stock Exchange Corporation(2010.11.19) |
| Date： |
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Article 52
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Unless there are provisions to the contrary, 40 days prior to the delisting of securities as approved by the Competent Authority, the TWSE shall publicly announce such facts and inform the GTSM and such company that the securities may by applied for as managed stocks.
The TWSE shall announce the delisting of securities in accordance with Article 50-2, Article 50-6, Article 50-7, Article 53-1, Article 53-11, Article 53-31, or Article 53-32 five days prior to such event.
After a listed company or SITE is notified by the TWSE of delisting of its securities, it shall within two days from the date on which it receives such notification make a public announcement and send two copies of the newspaper in which the announcement was made to the TWSE for recordation, provided that it may be exempted from the aforesaid requirement concerning public announcement date, where for reason of maturity of the bond issue period or other exceptional circumstance, and subject to approval of the Competent Authority.
The preceding paragraph shall apply mutatis mutandis when a trustee institution is notified by the TWSE of the delisting of its beneficial securities; when a special purpose company is notified by the TWSE of the delisting of its asset-backed securities; when a real estate securitization trustee institution is notified by the TWSE of the delisting of its REIT or REAT beneficial securities; when the master agent of an offshore fund institution is notified by the TWSE of the delisting of its offshore exchange-traded fund beneficial certificates; when a foreign issuer and its depository institution are notified by the TWSE of the delisting of their Taiwan Depositary Receipts; when a secondary listed company is notified by the TWSE of the delisting of its shares; and when an issuer is notified by the TWSE of the delisting of its call (put) warrants.
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Article 59
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When determining the daily price fluctuation limits for competitive auction trading of an initial listing of securities, unless otherwise provided by law, reference shall be made to the public offering price before the listing date. Where the securities in the initial listing are already traded on the GTSM, reference shall be made to the final execution price on the latest trading day or the reference price on the latest trading day before the cessation of GTSM listed trading.
The daily price fluctuation limits for an initial listing of common shares converted into a newly established company under Article 53-11 to Article 53-13 or Article 53-31 shall be calculated on the basis of the following reference price: the price arrived at by multiplying (the closing price on the last trading day of the common shares of the listed company whose converted common shares are anticipated to account for the greatest proportion of the anticipated issued common shares of the newly established company) by (the number of shares required for exchange of one new share). The daily price fluctuation limits for securities other than common shares shall be calculated on the basis of the following reference price: the price arrived at by multiplying (the closing price on the last trading day of the TWSE listed security or GTSM listed security anticipated to account for the highest proportion of those converted into the security) by (the number of shares [or trading units] required for exchange of one share [or one trading unit] of the new security).
The daily price fluctuation limits on initial listings of new capital stock, certificates evidencing right to subscribe to new stocks, and certificate evidencing payment shall be determined with reference to the closing price of the original stock on the previous day minus the value difference on rights; provided where the difference on rights cannot be determined, the price fluctuation limit shall be determined with reference to the closing price of the original stock on the previous day.
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