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820

The following requirements apply to a rights issue that is not underwritten:

(1) The rights issue cannot be withdrawn after the commencement of ex-rights trading.
(2) The Exchange may permit the issuer to scale down a shareholder's application to subscribe for the rights issue to avoid placing the shareholder in the position of incurring a mandatory bid obligation under the Takeover Code as a result of other shareholders not taking up their rights entitlement fully.