Stock exchange governance

SINGAPORE STOCK EXCHANGE

LONDON STOCK EXCHANGE

NASDAQ DUBAI

Operating History

3 years

3 years covering 75% of business.

Most recent published information, not more than 6 months old

(9 months for Standard listings or DRs) at date of IPO

3 years

Market capitalization

Nothing specific but recommend S$150 million

US$1.2 million (GBP700,000)

US$50 million

Working capital

Working capital after listing for at least 12 months, having positive operating cash flows

Working capital for at least the next 12 months.

N/A

Number of float shares

25% public float at least for market cap greater than S$300 million and at least 12% public float

Minimum 500 shareholders.

25%

25%

Lock-up requirements

6 months to 12 months

6 to18 months depending on IPO

6 months

Equity market listing fees

CHF15,000 to CHF80,000

Under 5, maximum GBP 6,389

5-50, maximum GBP 44,189

50-250, maximum GBP 107,189

250-500, maximum GBP133,439

Over 500, maximum GBP369,689

Lower rates apply for DRs

US$ 70,000 to 250,000

Annual exchange fees

CHF6,000 plus CHF10/1 million of capitalization

From GBP 4,200 to GBP 41,400 based on market capitalization.

US$ 20,000 to 50,000

Accounting standard

SFRS /US GAAP/IFRS

IFRS, Japan, US

IFRS

Time line of going public

6-12 months

4-24 months

3-6 months

Value of Equity 2013

Trading Value is $1,038,294,396

Trade Value 2,871 Billion USD.

The value of equities traded on NASDAQ Dubai in August 2013 reached 34,569,569 dollars, an increase of 23% from 28,077,485 dollars in August 2012 and a decline of 32% from 50,974,955 dollars in July 2013

Equity Volumes 2013

Trading volume is 1,709,610,920

Total trading volume up till October, 2013 is 634,673,289 shares.

Equities volume in August 2013 reached 2,923,413 shares, a fall of 6% from 3,118,613 shares in August 2012 and of 44% from 5,194,804 shares in July 2013.

Buy-Ins

SGX enforces a buy-in when the seller fails to deliver on T+3, sometimes at punitive prices. The seller pays the difference between the selling price and the buy-in price as well as fees.

Buy-in notices will be issued on SD+4, and Buy-Ins occurs on SD+5.

Optional in OTC stocks not settled by T+10 and in NYSE names not settled 30 days after the date of the trade.

Taxes

Clearing fee is 0.04% (Maximum of SGD 600 or equivalent USD,

HKD or AUD). SGX Access: 0.0075% fee, often absorbed by brokers.

Stamp Duty Reserve Tax (SDRT) of 0.5% is payable on all purchases of eligible securities. Deliveries of eligible securities to certain ADR depositaries, Clear stream accounts or other accounts outside of the CREST system incur an additional SDRT charge of 1%. Levy of 1 GBP on all trades above 10,000 GBP.

SEC transaction fee is $19.20 per million dollars traded.

HOURS OF

OPERATION

Pre-Open 8:30-8:59

Continuous Session 9:00-17:00

Pre-Close 17:00-17:05

Closing Auction 17:06

Opening Auction 7:50-8:00 Market Open 7:00-8:00

Continuous Session 8:00-16:30 Opening Auction 8:00-8:15

Closing Auction 16:30:01-16:35

10am to 2pm (6am to 10am GMT) from Sunday to Thursday

CIRCUIT BREAKERS

There is no set type of circuit breakers, though SGX may intervene when necessary. Listed companies can also appeal to SGX to halt trading on the security.

5% to 25% tolerance levels (depending on the trading segment of the security). If these levels are breached, an intraday suspension takes place.

Market-wide trading halts occur if the S&P 500 declines by 7%, 13%, or 20% (called Level

1, Level 2, and Level 3 halts, respectively). Level 1 and 2 halts can each occur only once per ...