814

Past version: Effective up to 06 Feb 2020

(1) An issuer which intends to make a rights issue must announce (having regard to Rule 704(25) the issue promptly, stating the following:—
(a) price, terms and purpose of the issue, including the amount of proceeds proposed to be raised from the issue and 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) whether the issue will be underwritten;
(c) the financial circumstances which call for the issue; and
(d) whether it has obtained or will be seeking the approval of the Exchange for the listing and quotation of the new shares arising from the rights issue.
In addition, an issuer must observe the disclosure requirements in Appendix 8.2.
(2) If a rights issue involves an issue of convertible securities, the issuer must also comply with Part VI of this Chapter.