Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
Definitions and Interpretation
Chapter 1 Introduction
Chapter 2 Sponsors
Chapter 3 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange
Chapter 4 Equity Securities
Chapter 5 Reserved
Chapter 6 Reserved
Chapter 7 Continuing Obligation
Chapter 8 Changes in Capital
Chapter 9 Interested Person Transactions
Chapter 10 Acquisitions and Realisations
Chapter 11 Takeovers
Chapter 12 Circulars, Annual Reports and Electronic Communications
Chapter 13 Trading Halt, Suspension and Delisting
Chapter 14 Transition Rules
Appendices
Practice Notes
Code of Corporate Governance 2012
Code of Corporate Governance 2018
SGX-ST Rules
CDP Clearing Rules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(2 versions)
 
Up to Sep 28 2011Sep 29 2011 onwards

812

(1) An issue must not be placed to any of the following persons:
(a) the issuer's directors and substantial shareholders;
(b) immediate family members of the directors and substantial shareholders;
(c) substantial shareholders, related companies (as defined in Section 6 of the Companies Act), associated companies and sister companies of the issuer's substantial shareholders;
(d) corporations in whose shares the issuer's directors and substantial shareholders have an aggregate interest of at least 10%; or
(e) any person who, in the opinion of the Exchange, falls within category (a) to (d).
(2) Rule 812(1) will not apply if specific shareholder approval for such a placement has been obtained. The person, and its associates, must abstain from voting on the resolution approving the placement.
(3) Rule 812(1)(a) will not apply provided that:
(a) The substantial shareholder:
(i) does not have representation (whether directly or indirectly through a nominee) on the board of the issuer;
(ii) does not have control or influence over the issuer in connection with the day-to-day affairs of the issuer and the terms of the placement;
(b) The placement is effected through an independent process such as book-building;
(c) The placement is made to more than one placee; and
(d) The proportion of issued shares of the issuer held by the substantial shareholder immediately after the placement is not more than the proportion of issued shares of the issuer held by it immediately before such a placement.
An issuer (through its sponsor) should consult and clarify with the Exchange in the event of any uncertainty.
(4) The Exchange may agree to a placement to a person in Rule 812(1)(b), (c) or (d) if it is satisfied that the person is independent and is not under the control or influence of any of the issuer's directors or substantial shareholders.

Amended on 29 September 2011.