Key Developments: Hong Kong Exchanges and Clearing Ltd (HKXCF.PK)
16.81USD
17 May 2013
$0.05 (+0.28%)
$16.76
$16.68
$16.81
$16.68
3,050
1,533
$19.45
$12.78
Latest Key Developments (Source: Significant Developments)
Hong Kong Exchanges and Clearing Ltd Does Not Recommend Dividend
Hong Kong Exchanges and Clearing Ltd announced that it is the Group’s plan to declare a dividend only at the half-year and year-end. Therefore, no dividend will be proposed for the first quarter of 2013 (first quarter of 2012: $Nil). Full Article
Hong Kong Exchanges and Clearing Ltd Announces Appointment Of Group Chief Financial Officer
Hong Kong Exchanges and Clearing Ltd announced the appointment of Mr Paul Michael Kennedy (Mr Kennedy) as the Group Chief Financial Officer effective May 8, 2013. Full Article
Hong Kong Exchanges and Clearing Ltd Recommends Final Dividend
Hong Kong Exchanges and Clearing Ltd announced that the Board recommends the payment of a final dividend of $1.46 per share (2011: $2.09 per share) to Shareholders whose names appear on the ROM on May 2, 2013, and the retention of the remaining profit for the year. The proposed final dividend together with the interim dividend payment amounts to a total of about $3.7 billion (2011: $4.6 billion), which represents a payout ratio of 90% (2011: 90$) of the profit attributable to shareholders for the year ended December 31, 2012 and includes dividends of about $8 million (2011: $9 million) for shares held in trust under the Share Award Scheme. The Board also proposed to offer a scrip dividend alternative to allow Shareholders to elect to receive the final dividend wholly or partly in the form of new fully paid shares instead of in cash. Full Article
Hong Kong Exchanges and Clearing Ltd Announces Resignation Of Chief Financial Officer
Hong Kong Exchanges and Clearing Ltd announced that Mr Stephen Jeffrey Marzo has tendered his resignation, effective January 13, 2013, as the Chief Financial Officer of HKEx. Mr Marzo’s day-to-day responsibilities will be taken over by the Deputy Chief Financial Officer Mr Kwong Yau Shing, Vincent on an acting basis. Full Article
Hong Kong Exchanges and Clearing Ltd Announces Placing And Issue Of Shares Under General Mandate
Hong Kong Exchanges and Clearing Ltd announced that on November 29, 2012, the Company and the Placing Agents entered into the Placing Agreement pursuant to which each of the Placing Agents has conditionally agreed with the Company to act as agent, severally and not jointly, for the Company to use its best endeavours to procure subscribers to subscribe for the Placing Shares at the Placing Price. The Placing Shares represent (i) approximately 6.06% of the existing issued share capital of the Company (consisting of 1,084,057,087 Shares in issue as at November 19, 2012); and (ii) approximately 5.71% of the Company's issued share capital as enlarged by the Placing (assuming the Placing is completed in full). Assuming that all the Placing Shares have been placed out to the Placees, the maximum gross proceeds and net proceeds (after deduction of all related costs, fees, expenses and commission) from the Placing will be approximately HKD7,753,190,000 and HKD7,709,424,050 respectively. The Company intends to use the net proceeds from the Placing to partly fund the Acquisition, the details of which are set out in the Company’s announcements dated June 15, July 9, July 25, September 25 and November 29, 2012. After taking into account all related costs, fees, expenses and commission of the Placing, the net Placing Price is approximately HKD117.33 per Share. Full Article
Hong Kong Exchanges and Clearing Ltd Taps $800 million Equity Funding-Reuters
Reuters reported that Hong Kong Exchanges and Clearing Ltd is raising about $800 million to fund its takeover of the London Metal Exchange, tapping equity markets minutes after receiving approval from Britain's Financial Services Authority for the acquisition. Full Article
Hong Kong Exchanges and Clearing Ltd Does Not Recommend Dividend
Hong Kong Exchanges and Clearing Ltd announced that no dividend will be proposed for the quarter ended September 30, 2012 (third quarter of 2011: $Nil). Full Article
Hong Kong Exchanges and Clearing Ltd Announces Proposed Issue Of USD500,000,000 0.50% Convertible Bonds Due 2017
Hong Kong Exchanges and Clearing Ltd referred to the announcement by the Company on September 24, 2012 in relation to the proposed issue of convertible bonds in the principal amount of USD400,000,000 (approximately HKD,101,240,000) with a fixed rate coupon. Following a favourable bookbuilding process, the Board announced that it has proposed to increase the principal amount of the issue to USD500,000,000. The Company has entered into the Subscription Agreement with the Lead Managers, under which the Lead Managers have agreed severally to subscribe and pay for, or to procure subscribers to subscribe and pay for, the Convertible Bonds to be issued by the Company in an aggregate principal amount of USD500,000,000 (approximately HKD3,876,550,000), on the terms and subject to the conditions set out therein. The Company intends to use the net proceeds from the Subscription to (i) partly fund the Acquisition and (ii) reduce the amount of committed borrowings under the bank facilities entered into on 15 June 2012 in relation to the Acquisition. The Company is entitled at its option to redeem the Convertible Bonds at the Regulatory Redemption Amount, if the FSA disapproves of the Acquisition or on the six month anniversary of the Closing Date, the FSA has not approved or granted approval of the Acquisition. Full Article
Hong Kong Exchanges and Clearing Ltd Announces Interim Dividend
Hong Kong Exchanges and Clearing Ltd announced that the Board has declared an interim dividend of $1.85 per share (2011: $2.16 per share), amounting to a total of about $2,000 million (2011: $2,331 million) for the year ending December 31, 2012 which includes dividends of about $4 million (2011: $4 million) for shares held in trust under the Share Award Scheme. The interim dividend will be payable in cash with a scrip dividend alternative to Shareholders whose names appear on the ROM on August 24, 2012. The scrip dividend alternative is conditional upon the SFC’s granting the listing of, and permission to deal in, new shares in HKEx to be issued pursuant thereto. A circular containing details of the scrip dividend alternative together with an election form will be despatched to Shareholders on or about August 30, 2012. Definitive share certificates in respect of the scrip dividend and dividend warrants will be despatched to Shareholders on or about September 21, 2012. Full Article
Hong Kong Exchanges and Clearing Limited To Acquire London Metal Exchange-WSJ
The Wall Street Journal reported that Hong Kong Exchanges and Clearing Limited, which operates the city's stock exchange, said Friday it agreed to acquire the London Metal Exchange for GBP1.388 billion (USD2.16 billion). The offer will be financed with cash and GBP1.1 billion in bank loans. LME is the world's largest exchange trading nonferrous metals, including copper and aluminum. The offer values the London Metal Exchange at GBP107.60 per share. The offer must be approved by the U.K.'s Financial Services Authority. The acquisition is expected to be completed in the fourth quarter. The GBP1.1 billion in short- and long-term facilities included in the bid will come from China Development Bank Corp., Deutsche Bank AG, the Asian unit of HSBC Holdings PLC, and UBS AG. Full Article
Trading fee hike boosts LME 2012 revenues by 36 pct
SINGAPORE, Feb 27 - London Metal Exchange revenues jumped 36 percent in 2012 from a year earlier, driven by the introduction of new trading fees in the second half, results from the LME's owner, Hong Kong Exchanges & Clearing Ltd , showed on Wednesday.
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