Versions

 

4.02A

For the purpose of rules 4.04(2), 4.04(4), 4.05A and 4.28:—
 
(1)    “acquisitions of business” include acquisitions of associates and any equity interest in another company. The rules generally do not apply to acquisitions of assets, but the Exchange may consider such transactions to be acquisitions of business based on specific facts and circumstances. For example, the Exchange may consider the substance of the transaction and guidance under relevant accounting standards;
 
(2)    “trading record period” refers to the three financial years immediately preceding the issue of the listing document and any stub period reported on by the reporting accountants in conformity with rule 8.06; and
 
(3)    “proposed to be acquired” refers to a proposal to acquire a specific subsidiary or business, even if there are no legally binding agreements. Examples include a memorandum of understanding entered into by a new applicant, and a tender that a new applicant has submitted, or will submit, for the acquisition of any business or subsidiary in the case of an open bid/ tender invitation.