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SCMP Reporter

A DETAILED trading guide is being issued to brokers and professional investors explaining the ins and outs of what is involved in the transfer of Jardine Matheson and Jardine Strategic shares from Hong Kong to Singapore over the New Year.

  The 60-page technical document provides information on the transitional arrangements for the move.

  At 3.45 pm on Friday, December 30, dealings in the company's shares in Hong Kong will cease. Shares held at the time will be automatically moved to the Jersey branch register of members of the company and held on the Singapore section of the international register.

  After this time shares will trade in United States dollars.

  To help things go smoothly, Central Registration Hong Kong will continue to act as a transfer agent in the territory for the international register.

  Shareholders wishing to sell their shares must ensure they are held in a way to enable a trade to be settled.

  To trade on the Singapore Stock Exchange, shares must be deposited into the settlement system of the Singapore Stock Exchange (CDP system).

  The Development Bank of Singapore is helping in this transfer to the CDP on behalf of the participants in the Hong Kong clearing system, which will take place on December 31.

  The bank's local securities arm, DBS Securities, is helping to open accounts at DBS for the purpose of depositing shares into the CDP. All this is intended to happen free of charge to investors.

  Shares left in the Hong Kong clearing system after January 4, the first day of New Year trading, will not be able to effect a settlement and will continue to incur system levies.

  Dealings through London and American Depositary Receipts remain relatively unaffected.

  Central clearing participants in Hong Kong will be given a choice, with DBS Bank acting either as a depositary agent in the CDP, via DBS Nominees, or in arranging for the delivery of the shares to the securities account of a nominated CDP depositary agent.

  Trades done in Hong Kong up until the last effective trading day will need to be settled by January 4. Trades effected in Singapore from this date will operate on a T+7 day settlement period.

  To trade on the Singapore Stock Exchange, shares must first be registered with the Central Depository (Pte) on its international register.

  Dealings are effected by exchange members on an order-driven computerised system, input by terminal between 9 am and 12.30 pm and 2 pm to 5 pm Mondays to Fridays.

  They trade in 400 and 500 board lot size on a price then time priority basis. Dealings have to settle through the CDP.

  Settlement is effected between securities accounts of the buyer and seller maintained by depositary agents or direct account holders on a scripless book-entry basis.

  If settlement cannot be effected due to insufficient securities in the seller's account, the buy-in procedures of the exchange come into force. Money settlement will be in US dollars.

  Applicable Singapore brokerage will be between 0.25 per cent and 0.5 per cent with a minimum of US$3. Rebates are granted of one half of the brokerage to foreign brokers. For non-residents stamp duty does not apply.

                             TIMETABLES                        Trading and settlement Dealings in Hong Kong start on an   isolated trade basis within CCASS                  Dec 2, 1994 Latest time for dealing on the   Hong Kong stock exchange                 3:45 pm, Dec 30, 1994 Discontinuation of Hong Kong listing                Dec 31, 1994 Shares quoted in US dollars   (Except in Australia)                              Jan 3, 1995 Latest date for settling all trades effected   on the Hong Kong stock exchange                    Jan 4, 1995                    Transitional arrangements Shareholders' guide posted to shareholders         Sept 27, 1994 Explanatory letter and form of instruction   distributed to CCASS participants                Sept 27, 1994 Latest time to apply to open a securities   account with DBS Bank                              Dec 2, 1994 Latest time for lodging form of instruction   to partcipate in DBS arrangements           5 pm, Dec 16, 1994 Latest time for CCASS participants to   deliver the form of notification to DBS bank   to confirm the number of shares   to be transferred on Dec 30, 1994           6 pm, Dec 29, 1994 Latest time for transfer of shares   to DBS Bank's stock account in CCASS   under the DBS arrangements                 11 am, Dec 30, 1994 Anticipated date for shares to be available   for settlement through CDP in Singapore            Jan 3, 1995 Latest date for deposit of shares   into the CCASS depository                          Jan 4, 1995 Period for free deposit of shares into           Oct 1, 1994, to   CDP in Singapore                                March 31, 1994                      Interim dividends Book closure dates for interim dividends         Oct 10-14, 1994 Payment dates for interim dividends  - Jardine Strategic Holdings                        Dec 1, 1994  - Jardine Matheson Holdings                         Dec 2, 1994 



What the switch will mean to shareholders