At present, major shareholders, directors and officers of listed companies are required to transmit FDI messages by hand, post, fax or e-mail to the relevant listed company and the Hong Kong Stock Exchange Limited (SEHK). However, as soon as the e-filing system comes into force, applicants must use the DION system to fulfil their disclosure obligation, although the change to the notification regime is subject to a transitional period of three months (as described below). Persons participating in a share acquisition agreement in a listed company (commonly known as the « Clause 317 Agreement ») must also submit the corresponding documents through the DION system. These provisions apply essentially where two or more persons agree to acquire shares in a target company and the agreement prescribes how one or more of the parties may exercise or assign the rights in those shares. Each party must take into account the interests of all other parties to the agreement when deciding whether or not to own 5% or more of the publicly traded company. If this is considered, each party is considered a key shareholder whose interests must be disclosed. .