1206

Past version: Effective up to 28 Sep 2011

Any circular sent by an issuer to its shareholders must:—

(1) contain all information necessary to allow shareholders to make a properly informed decision or, if no decision is required, to be properly informed;
(2) advise shareholders that if they are in any doubt as to any action they should take, they should consult independent advisers;
(3) state that the Exchange takes no responsibility for the accuracy of any statements or opinions made or reports contained in the circular;
(4) comply with specific circular requirements in the Listing Manual; and

For example:—

Corporate Action Rules requiring specific information to be disclosed in the circulars to shareholders
(a) Rights Issues Appendix 8.2
(b) Capitalisation Issues and Subdivision of shares Rule 839
(c) Issue of Warrants and Other Convertible Securities Rule 832
(d) Employee Share Option Schemes Rules 855, 856, 857, 858 and 861
(e) Share Buy-Backs Rule 883
(f) Scrip Dividends Rule 862(1)
(g) Interested Person Transactions Rules 920(1)(b) and 921
(h) Acquisitions and Realisations Rule 1014
(i) Very Substantial Acquisitions or Reverse Takeovers Rule 1015(5)
(5) include an appropriate statement if a person is required to abstain from voting on a proposal at a general meeting by a listing rule.