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An applicant must appoint an issue manager who will act as the sponsor for and manage the applicant's listing on the Exchange.

An
issue manager must be able to give the applicant impartial and competent advice and must have the necessary experience to discharge its professional duties as an issue manager fully and professionally.

The issue manager is responsible for preparing the applicant for a new listing (including an initial public offering, a listing by way of an introduction or a reverse takeover).

Amended on 29 September 201129 September 2011, 7 October 20157 October 2015 and 10 January 202010 January 2020.