Revised Chapter 8 Listing Rules For The Channel Islands Securities Exchange Authority

Introduction

In December 2013, following the restructuring of the Channel Islands Stock Exchange (the "CISX"), the Channel Island Securities Exchange Authority Limited (the "Exchange") commenced operations. The Exchange provides a listing facility and market for companies to raise capital from investors worldwide based on a bespoke trading platform. The Exchange's strategy for the future, in addition to maintaining and enhancing their core business sectors, is to look to diversifying their business base. As part of this strategy the Exchange has carried out a comprehensive review of the Chapter 8 Listing Rules (the "Listing Rules") and a revised chapter entitled 'Specialist Securities' will be published and come into effect on 19 October 2015.