Hong Kong Regulations

SECURITIES AND FUTURES (DISCLOSURE OF INTERESTS-EXCLUSIONS) REGULATION - SECT 5

Exclusion from requirements for notification in certain circumstances of change in nature of interest

A person is not required to give notification under section 324 of the
Ordinance, where a duty of disclosure arises under section 310(1) of the
Ordinance in the circumstances specified in section 313(1)(d) of the Ordinance
because of a change in the nature of the person's interest in shares comprised
in the relevant share capital of the listed corporation concerned, if the
change is due to his entering into a contract for the sale of the shares so
comprised in which he is interested, under which he is required to deliver the
shares to the purchaser under the contract within 4 trading days after the
date of the contract.