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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Procedures for Review of Call (Put) Warrant Listings  CH

Amended Date: 2018.07.23 
Categories: Primary Market > Review
7     The issuer shall submit related materials to the TWSE in accordance with the following provisions:
  1. Following the TWSE's issuance of documents for approval of the issuance plan for call (put) warrants, the issuer shall enter into the TWSE designated website for information disclosure its public announcement of issuance of call (put) warrants. The issuer shall, during the period from the date of issuance to no later than 2 business days prior to the projected listing date, consult with the TWSE on the projected listing, and the projected listing date may not be later than 10 business days after the date of consultation with the TWSE. In the case of a follow-on issue of call (put) warrants, consultation with the TWSE on the projected listing need only be held on the business day preceding the projected listing date.
  2. Before it consults with the TWSE on the projected listing, and upon the start of an extension period, the issuer shall pay a listing fee to the TWSE. Payment shall be made no later than the scheduled listing date in the event of call (put) warrants issued for capital increase.
    With respect to the collection of annual listing fee, the rates for call (put) warrants under the TWSE Rate Table for Securities Listing Fees shall apply mutatis mutandis. In the case of a follow-on issue of call (put) warrants, the listing fee shall be calculated in accordance with Article 2, paragraph 5 of the Rate Table.
  3. After the issuer has made arrangements for the projected listing date, the TWSE shall undertake matters related to the public announcement for listing following its review of the application and related attachments. If review finds that the issue does not conform to listing requirements, the listing contract shall be voided, and the voidance reported to the competent authority for recordation.
  4. The issuer shall do the following with respect to any extendable callable bull contracts and extendable callable bear contracts that it issues:
    1. Except where the number of units outstanding is below 100,000 or in special circumstances and with the approval of the TWSE, the issuer shall, 20 business days prior to expiration of the validity period of the contracts, apply with the TWSE for extension of the period of validity of the contracts, and enter the relevant matters into the TWSE-designated information reporting website.
    2. If on the last trading day the contracts meet the provision that requires extension of period of validity under Article 11, subparagraph 8, item 4 of the TWSE Rules Governing Review of Call (Put) Warrant Listings, the issuer shall, on such day, enter extension-related matters into the TWSE-designated information reporting website, and submit the downloaded information to the TWSE. If the contracts do not meet the extension requirement, the issuer shall on the business day following the last trading day enter the required announcement under Article 43-1, paragraph 6 of the TWSE Operating Rules into the TWSE-designated information reporting website, and submit the downloaded information to the TWSE.
    3. The issuer shall, on the day preceding the extension period, adjust the strike price or point and knock-out price or point for the extension period in accordance with Article 12-3 of the TWSE Rules Governing Review of Call (Put) Warrant Listings. During the extension period, the above-mentioned strike price and knock-out price shall be adjusted accordingly if the issuing company of the underlying securities distributes dividends or bonuses, increases or decreases capital, or undergoes a stock split, merger or consolidation, or conducts other related matters, or if a securities investment trust enterprise or a futures trust enterprise distributes dividends on an underlying ETF or futures ETF, or if an offshore fund institution or its designated institution distributes dividends on an underlying offshore ETF or conducts other related matters.

Interpretation: