Versions

 

810

(1) An issuer which intends to issue shares, company warrants or other convertible securities for cash must announce the issue promptly. The announcement must include the following:
(a) the terms of the issue and the purpose of the issue including:
(i) the identity of the placement agent appointed or to be appointed for the issue, where applicable;
(ii) the amount of proceeds proposed to be raised from the issue; and
(iii) the intended use of such proceeds on a percentage allocation basis (which could be expressed as a range if the exact allocation has not been determined).
(b) where the issue is proposed to be used mainly for general working capital purposes, the issuer must provide reasons for such use taking into account its working capital position;
(c) whether the issuer's directors are of the opinion that, after taking into consideration:
(i) the present bank facilities, the working capital available to the group is sufficient to meet its present requirements and if so, the directors must provide reasons for the issue; and
(ii) the present bank facilities and net proceeds of the issue, the working capital available to the group is sufficient to meet its present requirements; and
(d) whether it has obtained a listing and quotation notice from the Exchange or will be seeking the listing and quotation of the new shares arising from the issue.
(2) Where no placement agent is appointed for the issue or where a placement agent is appointed but is subject to any restrictions and directions imposed by the issuer regarding the identities of and/or the allocation to the placees, the issuer must also include in its announcement:
(a) the identities of the placees and the number of shares placed to each of them;
(b) details on how the placees were identified and the rationale for placing to them; and
(c) the restrictions and/or directions imposed on the placement agent by the issuer regarding the identities of and/or the allocation to the placees, where applicable.

Amended on 29 September 201129 September 2011.