Issuers were able to opt in and transition to the new NZX Listing Rules at any time between 1 January 2019 and 30 June 2019.
From today, Monday 1 July 2019, NZX moves to one equity board and the new Listing Rules now apply to all NZX issuers.
NZX Regulation granted a class waiver so that transitioning and migrating issuers were not required to have a governing document (such as a constitution) that complied with the new Listing Rules from their transition/migration date provided that the issuer put a resolution at its next meeting of shareholders to approve the necessary changes to its constitution for compliance with the new Listing Rules.
Accordingly, issuers relying on the class waiver should be preparing a compliant constitution and explanatory notes to present to shareholders at their next meeting. If you need any assistance with this please feel free to contact us and we would be more than happy to assist.
