Summary by Moomoo AI
HSBC Holdings Limited (“HSBC”) announced on 20 March 2024 that it has been granted an exemption under Section 13.36 (1) of the Hong Kong Listing Rules (HKEX) to issue securities with a maximum of 20% of issued share capital or convertible securities. These securities are specific debt securities that can be converted into ordinary shares under specified circumstances and comply with specific regulatory requirements in the European Union and the United Kingdom. HSBC will normally seek general distribution authorisation at the AGM, but the exemption obtained this time will provide additional issuance authorisation. The waiver will be effective until the end of the first Annual General Meeting or until the General Meeting revokes or amends the authorization by ordinary resolution. HSBC has announced the exemption and explicitly stated that the license is in addition to the general license. The members of the Board of Directors of HSBC and the Group Corporate Secretary and Managing Director, Mr Dai Elan, were also confirmed in the announcement.