The 9th session of training course for controlling shareholders and de facto controllers of companies listed on main board was recently held by Shenzhen Stock Exchange (“SZSE”) with an aim of further regularizing behavior of controlling shareholders and de facto controllers of listed companies and providing pertinent protection for the legal rights and interests of listed companies and minority shareholders. Over 90 attendees representing controlling shareholders, de facto controllers, chairmen of the board and senior executives of 29 listed companies, which had recently involved or will involve in the change of de facto controllers and which had gotten their approvals for listing resumption application, participated in the training.
At the opening ceremony, relevant principal of SZSE introduced the delisting system reform in the current securities market, the promotion of acquisition and reorganization, the improvement of the internal control system, the prevention and crackdown on insider trading, and other focal points of work. He pointed out that as a public company, a listed company shall distinguish itself from the average companies from the perspective of heavier responsibilities and obligations shouldered. First, listed companies shall cherish the hard-won listing status and adapt to the change of the role as soon as possible so as to better perform bounden responsibility and duties and exercise their controlling rights in good faith. Second, all laws and regulations in the capital markets should be absolutely obeyed with awe. Listed companies shall study, understand and abide by laws, putting an end to illegal behaviors. Third, all shareholders, especially the small and medium-sized shareholders, should be treated with gratitude. Listed companies shall never damage the interests of small and medium-sized shareholders or listed companies with the advantage of their controlling status.
Thematic interpretation with respect to corporate governance and legal liabilities of de facto controllers, the code of conduct regarding information disclosure and stock trading for shareholders and de facto controllers of listed companies was presented by serious typical cases of irregularities in information disclosure, stock trading or insider trading.