8.21A

(1)    A new applicant must include a working capital statement in the listing document. In making this statement the new applicant must be satisfied after due and careful enquiry that it and its subsidiary undertakings, if any, have available sufficient working capital for the group's present requirements, that is for at least the next 12 months from the date of publication of the listing document. The sponsor to the new applicant must also confirm to the Exchange in writing that:
 
  (a)    it has obtained written confirmation from the new applicant that the working capital available to the group is sufficient for its present requirements, that is for at least the next 12 months from the date of publication of the listing document; and
 
  (b) it is satisfied that this confirmation has been given after due and careful enquiry by the new applicant and that the persons or institutions providing finance have stated in writing that the relevant financing facilities exist.
 
  Note 1:    This rule is modified for a new applicant Mineral Company which must comply with the requirements of rules 18.03(4) and 18.03(5).
 
  Note 2: This rule is modified for a new applicant under Chapter 18A which must comply with the requirements of rule 18A.03(4).
 
(2) The Exchange will not require a working capital statement under rule 8.21A(1), paragraph 36 of Part A of Appendix 1 and paragraph 36 of Part E of Appendix 1 to be made by a new applicant which is a banking company or an insurance company, provided that:—
 
  (a) the inclusion of such a statement would not provide significant information for investors;
 
  (b) the new applicant’s solvency and capital adequacy are subject to prudential supervision by another regulatory body; and
 
  (c) the new applicant will provide alternative disclosures on (i) the regulatory requirements as to the solvency, capital adequacy and liquidity of banking companies or insurance companies (as the case may be) in the relevant jurisdiction or place of operation; and (ii) the new applicant’s solvency ratios, capital adequacy ratios and liquidity ratios (as applicable) for the latest three financial years.
 
Note: Refer to Chapter 3A for other sponsor obligations.