Listing Rules and Guidance: Contents


 
 

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Jun 29 2018 onwards

7.24A
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(1) A proposed open offer must be made conditional on minority shareholders' approval as set out in rule 7.27A unless the securities will be issued by the listed issuer under the authority of a general mandate granted to them by shareholders in accordance with rules 13.36(2)(b) and 13.36(5).
(2) Subject to rule 10.08, in the period of 12 months from the date on which dealings in the securities of a new applicant commence on the Exchange, the issuer shall not effect any open offer, unless it is made conditional on minority shareholders' approval as set out in rule 7.27A.

Note: See rule 7.27B for the additional requirements relating to rights issues, open offers and specific mandate placings.